Geely Auto’s third-quarter results show a striking difference between where it sold vehicles and where it earned profit: overseas markets accounted for nearly 92.9% of the company’s 5.21 billion yuan in attributable core profit. The figures, released on October 29, also put quarterly revenue at 99 billion yuan and total vehicle sales at about 812,500 units, including exports.
Exports represented roughly 39.8% of those sales, yet brought in 4.84 billion yuan of core profit. By contrast, more than 60% of Geely’s vehicles were sold in China, while the domestic market contributed only around 7% of the reported profit. The article notes a discrepancy in the export count: one account gives 343,700 vehicles for the quarter, while a table attributed to Geely’s financial report lists 323,700. The latter figure aligns with the reported export share of total sales.
Geely exported 484,000 new-energy vehicles during the first three quarters, a 531% increase year on year. It has also raised its full-year export target from 640,000 to 920,000 vehicles. The report compares the international push with BYD’s growth: BYD posted third-quarter revenue of 221.49 billion yuan and net profit of 10.02 billion yuan, but did not disclose how much profit came from exports. It shipped more than 180,700 new-energy vehicles abroad in September, up about 153.6% year on year.