With its unbeatable performance and smart features, the Geely Coolray, also known as a Proton X50 has won the hearts of crossover buyers in 40 countries.
The Malaysian Proton X50 Crossover continues to be a hot seller, in all variants for its good looks, very attractive pricing and great cabin features.
PRESS RELEASE: Zhejiang Geely Holding Group (Geely Holding) announced today that aggregate sales across its automotive brands – Geely Auto, LYNK & CO, Zeekr, Volvo Cars, Polestar, PROTON, Lotus, smart, Radar, LEVC, and Farizon which grew 20 percent year-on-year to 2.79 million units in 2023, setting a new record for the Group. For the sixth consecutive year, Geely Holding achieved more than 2 million units in aggregate sales.
The Group has seen sales of electrified and clean alternative fuel passenger and commercial vehicles grew over 51 percent year on year to approximately 980,000 units and accounting for 35% of Group aggregate sales.
The improved sales performance coincided with the Group’s continued focus on electrification, next-generation technologies and synergies in sustainability.
Proton Cars, of which Geely Auto Group controls 49.9 percent in partnership with DRB-HICOM, recorded its fifth consecutive year of growth with a 9.3 percent year over year increase in sales to 154,611 units.
The Malaysian national brand maintained its number-two position in its home market accounting for nearly a fifth of Malaysia’s total market share. The past year also saw the brand unveiling its fourth new model, the S70 based on Geely Auto’s iconic and latest generation Emgrand sedan with deliveries starting in 2024.
Geely Holding Outlook 2024
Geely Holding anticipates accelerated growth in electrified and clean alternative fuel vehicles sales and margins in 2024 across its brands. Nearly all brands under Geely Holding have announced new electrified models in 2023 with global production and delivery set to start in 2024.
In addition, several new models launched share Geely’s Sustainable Experience Architecture allowing brands to benefit from the synergetic advantages offered by Geely Holding in lowering costs and improving product margins.
Among the Geely Holding’s subsidiaries, Geely Automobile Group has set a sales target of 1.9 million units for 2024, an increase of roughly 18 percent of its 2023 total sales.
Zeekr aims to double its sales of premium electric vehicles to over 200,000 units and accelerate deliveries to European customers in 2024. Polestar aims to improve margins into the high teens and achieve annual sales around 150,000 by 2025.
