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Geely’s Profits Jump 18%
China’s Geely Holding Group reports record revenue and net profit for 2018, as unit sales jumped 20% to 1.5 million cars.
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China’s Geely Holding Group reports record revenue and net profit for 2018, as unit sales jumped 20% to 1.5 million cars.
The company’s revenue zoomed to 107 billion yuan ($16 billion), and net income climbed to 12.6 billion yuan ($1.9 billion). The company sells vehicles under the Geely, London Electric Vehicle, Lotus, Lynk & Co, Proton and Volvo brands.
Geely’s sales fell 5% short of its target last year as China’s retail market for passenger vehicles shrank for the first time in decades. The company predicts its volume will be flat this year.
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