Geely Auto Achieves Milestone Sales in 2024: 2.17 Million Units Sold with Over 53% Growth in International Markets
Geely Auto has announced its 2024 annual sales results, surpassing expectations with a remarkable 2.17 million units sold, representing a significant 32% year-on-year growth. This achievement underscores the company’s robust growth trajectory, with the international business also experiencing an impressive performance. Geely’s exports reached a record high of 403,923 units, reflecting a substantial 53% increase compared to the previous year.
Global Expansion and Market Penetration
In 2024, Geely Auto made significant strides in expanding its global presence. The company’s operations spanned more than 80 countries and regions, with successful entries into over 10 new markets. Geely further solidified its position in established markets such as the Middle East, Eastern Europe, and Latin America. The company’s strategic expansion was underscored by the introduction of 16 new models, which were launched in more than 40 countries and regions. This move highlights Geely Auto’s commitment to providing high-value vehicles and exceptional customer experiences to diverse audiences around the world.
Strengthening Localized Presence and Expanding Networks
To further enhance its global footprint, Geely Auto focused on strengthening its sales and service networks. By the end of 2024, the company had expanded its global network to approximately 900 locations, reflecting a 69% increase over the previous year. In addition, Geely invested in local manufacturing capabilities by building two new factories in Asia and Africa, which were essential in improving production efficiency and meeting local demand. The company also established four new subsidiaries in key markets, including Indonesia, Australia, the Philippines, and Chile, which allowed for improved market access and operational efficiency.
To complement its global expansion, Geely Auto also optimized its supply chain by establishing a state-of-the-art global parts network. The network is supported by a central hub and five strategically located overseas facilities, ensuring timely and efficient distribution of automotive components across markets.
Flagship Models Fueling Growth
Geely Auto’s flagship models have been a significant driver of its sales success in 2024. The Coolray, a compact SUV, achieved a significant milestone by surpassing 1 million units in sales. With a presence in 51 countries, the Coolray solidified its position as a top contender in its segment, ranking among the top 3 in key markets across six major regions. This success is a testament to the model’s widespread appeal and Geely’s ability to deliver vehicles that meet the needs of a diverse range of customers.
The Monjaro, Geely’s luxury SUV, also experienced impressive growth, with exports surging by 150% year-on-year. This robust performance highlights the demand for the Monjaro’s luxurious design and powerful performance, as well as its strong presence in global markets.
The Emgrand, another core model in Geely’s portfolio, continued to dominate in the A-segment sedan market. It secured a position among the top 3 A-sedan models in nine key markets, reaffirming its market leadership and consumer preference.
Geely Auto’s global presence was further bolstered by the launch of the Geely EX5, which garnered significant attention on the international stage. The vehicle was prominently showcased at high-profile events such as Automechanika Frankfurt, the Thailand Auto Expo, and the Hong Kong IMXPO, helping to further elevate Geely’s brand visibility and recognition in the global automotive landscape.
Building an Inclusive and Innovative User Experience
As Geely Auto’s customer base surpassed 16 million in 2024, the company’s focus on product innovation, operational excellence, and brand building became increasingly apparent. The company continued to prioritize delivering tailored solutions for customers in different regions, with a particular emphasis on its ‘multi-energy’ strategy. This strategy encompasses a wide range of vehicle technologies, including internal combustion engine (ICE), hybrid, electric, and methanol-powered vehicles, ensuring that Geely’s products cater to a diverse set of consumer preferences and regional requirements.
By continuing to invest in innovative technologies and offering environmentally friendly options, Geely Auto demonstrates its commitment to enhancing the overall customer experience while contributing to sustainable mobility solutions.
Leadership in Environmental, Social, and Governance (ESG) Initiatives
Geely Auto’s commitment to social responsibility was evident in its widespread efforts to drive positive change through environmental, social, and governance (ESG) leadership. The company continued to support a variety of charity initiatives across Europe, welfare projects in Latin America, and a vehicle recycling program in Africa. These efforts underscore Geely Auto’s dedication to making a tangible and lasting impact in the communities where it operates.
The company’s approach to ESG not only reflects its corporate values but also aligns with its long-term vision for sustainability. Geely Auto’s ongoing commitment to social responsibility further reinforces its reputation as a company that prioritizes the well-being of both people and the planet.
Looking Ahead to 2025: Bold Ambitions and Global Sales Targets
Geely Auto’s remarkable growth in 2024 has laid a strong foundation for the company’s ambitious goals in the coming years. In 2025, Geely Auto plans to make significant strides toward its global sales target of 2.71 million units, which represents a bold leap forward from its 2024 performance. To achieve this goal, the company will continue to refine and evolve its operating systems, business capabilities, and product strategies. Additionally, Geely will place a strong emphasis on enhancing its aftersales services to ensure that customers enjoy a seamless and satisfying ownership experience.
Geely Auto’s commitment to product innovation, operational excellence, and social responsibility will remain central to its growth strategy in 2025 and beyond. As the company expands its global presence, it will continue to focus on delivering high-quality vehicles that meet the diverse needs of customers worldwide, while maintaining a strong emphasis on sustainability and positive societal impact.
Geely Auto’s exceptional performance in 2024 highlights its growing global presence, strong product portfolio, and commitment to delivering high-value vehicles to a wide range of customers. With continued expansion into new markets, a growing sales network, and a focus on sustainability, Geely is well-positioned to achieve even greater success in the years ahead. The company’s ambitious goals for 2025 and beyond reflect its determination to remain at the forefront of the global automotive industry and continue driving positive change through innovation and responsible business practices.
