Autoindustrie: Geely steigert Gewinn dank starker Exporte

Düsseldorf - Chinese automobile manufacturer Geely reported a 36 percent increase in profit during the second quarter, meeting analysts' expectations. Robust exports helped the company offset the weak demand on the domestic Chinese market. The net profit for the period, covering the three months up to the end of June, amounted to 4.9 billion Yuan, roughly 627 million Euros.

This figure was calculated by Bloomberg based on a company announcement made on Monday. Analysts had collectively anticipated a profit of 4.9 billion Yuan. Revenue grew by 15 percent to 89.8 billion Yuan.

The parent company's profit in the core automobile empire fell by 1.8 percent to 9.09 billion Yuan, but still exceeded expectations. Geely's exports have more than doubled in the first six months, reaching 474,228 vehicles. This has helped the group compensate for the weakness in the domestic market. Car sales in China fell by 20 percent in the first half of the year.

The industry association Passenger Car Association predicts a 14 percent decline for the entire 2026 year. The slight lead over BYD at the beginning of the year has since evaporated. BYD, the world's largest electric car manufacturer, benefited from increased demand fueled by higher oil prices due to the US-Iran war. BYD sold more than 812,700 vehicles in the first half, nearly twice as many as Geely.

While Geely also sells fully electric vehicles and hybrids, the company lagged behind BYD in building an export distribution network and is now catching up. In July, Geely agreed to use underutilized Ford factory capacity in the Spanish city of Valencia to produce vehicles. The production of the compact crossover EX5 and small car EX2 in Brazil is also set to begin, with the latter sold in China as the Xingyuan. The production will be carried out through a joint venture with Renault.