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Geely Holding Experiences 4.7% Increase in Annual Sales, 82% YoY Market Share Growth in Saudi Arabia

Luxury Cars Technology

Geely Holding Experiences 4.7% Increase in Annual Sales, 82% YoY Market Share Growth in Saudi Arabia

Geely Holding experienced a 4.7% increase in annual sales in 2022, with a total of more than 2.3 million units sold across its brand portfolio. The demand for new energy vehicles was a key driver of this growth, as the group’s sales of electrified and clean alternative fuel vehicles doubled to more than 675,000 units, representing 29% of aggregate sales.
The continued global expansion and pivot to electrified vehicles has supported further growth at Geely Auto. The company attributed this success to their ongoing efforts in implementing the “new four” transformation and “Intelligent Geely 2025” strategy, which included significant investments and planning in the electrification and intelligence fields. This has led to a substantial increase in the rate of new energy vehicles.
Wallan Geely
Wallan Geely had a truly remarkable year in Saudi Arabia in 2022, cementing its position as a top player in the automotive industry. The brand held its place as a top 10 selling brand throughout the year, outpacing its competitors with its remarkable growth rate. The Coolray model was a standout performer, ranking among the top 5 best-selling SUV-B brands in KSA.
Moreover, the brand’s YoY market share growth of 82% was a remarkable achievement, the highest for any Chinese brand in Saudi Arabia. This impressive growth is a testament to Geely’s commitment to providing high-quality vehicles and delivering excellent customer experiences.
Geely’s network presence was another standout feature of its performance in KSA. The brand has the largest and widest network among Chinese brands in the country, allowing it to better serve customers and establish a strong presence in the market.
A senior executive at Wallan Geely expressed his thoughts on the brand’s performance in Saudi Arabia, saying “We are thrilled to see such remarkable growth in KSA in 2022. Our commitment to delivering high-quality vehicles and providing excellent customer experiences has paid off, and we look forward to continued success in the region.”
Building a Future of Sustainability
The company experienced a significant increase in the sales of electric and clean alternative fuel passenger and commercial vehicles, with numbers nearing double what they were the previous year. These sales surpassed 675,000 units and made up 29% of the company’s total sales. This success can be attributed to the company’s dedication to electrification, advanced technology, and sustainable practices. Additionally, in 2022, the company formed partnerships with key players in Europe to collaborate on technology and streamline operations.
One of the initiatives Geely has made this year is planning a big investment to turn the maker of London’s iconic black taxis into a high-volume, all-electric brand with a range of commercial and passenger vehicles. LEVC chief executive Alex Nan said at the taxi maker’s headquarters in Coventry, central England, “We need a developed product portfolio… Geely will make consistent investments into LEVC because this is a very unique project.”
Building Intelligence:
Geely Auto is a leader in the field of intelligence with a global deployment of core technologies centred around the “smart Geely technology ecological network”.
This year, Geely Auto has made significant strides in the realm of smart architecture and cockpit design. The company has upgraded models like the Boyue L to the cutting-edge electronic architecture GEEA2.0, which features concentrated functional domains. Additionally, Geely has paired this technology with the latest Qualcomm 8155 car-machine chip, enabling OTA upgrades for the smart cockpit. Furthermore, Geely Auto has teamed up with Geometry G6/M6 and Huawei to create a super electric smart cockpit based on HarmonyOS, driving the trend of intelligence in the mainstream pure electric market.
In terms of intelligent driving, Geely Auto has been focused on the development of L2+ and L3 technologies. The company’s latest “NOA high-end intelligent driving assistance system” has been applied to the Boyue L and will be integrated into future models from Lynk & Co, Geely and Geometry. This system allows users to subscribe and upgrade different functions through FOTA, ensuring a constantly evolving driving experience.
Into 2023:
As Geely Auto continues to strive for excellence, they have set a sales target of 1.65 million units in 2023, with new energy vehicle sales expected to increase by over 100% compared to the previous year. This ambitious goal reflects the company’s commitment to promoting the transformation to electrification, intelligence, and globalization, as well as their determination to improve market share and pave the way for a new era of intelligent electric development.