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China’s Geely Automobile Holdings Ltd stated on Monday first-half web revenue fell 43%, because the coronavirus outbreak slammed the brakes on auto gross sales on the planet’s largest market.
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It bought 530,446 autos in January-June, round 19% decrease than its complete sale
China’s Geely Automobile Holdings Ltd stated on Monday first-half web revenue fell 43%, because the coronavirus outbreak slammed the brakes on auto gross sales on the planet’s largest market. Geely, China’s highest-profile automaker globally because of the group’s investments in Volvo Cars and Daimler AG, posted January-June revenue of two.three billion yuan ($331.37 million), versus 4.01 billion yuan in the identical interval a yr prior.
Also Read: Fuelled By Volvo, China’s Geely Seeks Launchpad To Enter Auto Giant Orbit
Revenue fell 23% to 36.82 billion yuan, Geely stated. The outcome in contrast with the 36.89 billion yuan common of three analyst estimates compiled by Refinitiv.
Also Read: China’s Geely To Take Over Debt-Laden Automaker Lifan As Virus Stokes Shake-up
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Geely maintained its annual gross sales goal of 1.Four million autos set in January, shortly after the coronavirus outbreak was first reported in China on the finish of 2019. Sales final yr reached 1.36 million autos. It bought 530,446 autos in January-June, round 19% decrease than its complete over the identical interval final yr.
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