Shares of Geely Automobile Holdings slumped 11.6 per cent on Tuesday after the mainland carmaker missed its sales target for 2018 and forecast flat sales for this year amid a bleak market outlook.
The Hong Kong-listed unit of Geely Auto Group controlled by Chinese billionaire Li Shufu said in a filing to the stock exchange on Monday evening that it had achieved 95 per cent of the targeted sales of 1.58 million units in 2018, following a 44 per cent year on year sales drop in December alone.
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