Geely Auto’s full-year profit jumps 18%, shares climb

Higher sales: A file picture showing Auto’s high-tech plant in Baoji, Shaanxi Province, China that only produces the five-seater Geely Boyue SUV. Geely sold 1.5 million cars last year, 20% higher than the 1.25 million it sold in 2017.

BEIJING: China’s Geely Automobile Holdings posted an 18% jump in annual net profit, driven by higher sales of its sedans and sports utility vehicles (SUVs), but forecast flat sales growth in 2019 due to uncertainty about domestic demand.

Geely, China’s most high-profile car maker globally thanks to the Geely group’s investments in European automakers Volvo and Daimler, posted a record 2018 net profit of 12.55 billion yuan (US$1.88bil), up from the previous year’s 10.63 billion.