8 Consecutive Months of Dual Growth, Geely's Highlights Go Beyond 310,000 Units

8 Consecutive Months of Dual Growth, Geely's Highlights Go Beyond 310,000 Units

— In-depth Breakdown of the Three Growth Curves of October New Energy, Premiumization, and Globalization

On November 1, Geely Automobile Holdings Limited (0175.HK) announced the latest sales data: October sales totaled 310,183 units, exceeding 300,000 units for the first time this year. It achieved dual month-over-month and year-on-year growth for 8 consecutive months, with a monthly increase of 6%. Monthly data is never scarce in the industry; what is truly scarce is the ability to consistently deliver on monthly figures.

Breaking down this report reveals that 310,000 units are merely the result; the real variables lie within the structure: New Energy products broke the 200,000 unit mark in a single month for the first time, overseas exports stood at 100,000 units for 5 consecutive months, and luxury brands completed their full-year goals first. In the past, growth for many enterprises relied on single hit products for pulse-like spikes, while this scorecard from Geely presents a synergy formed by several curves moving upward simultaneously. The following sections will unpack the true substance behind these data points layer by layer from five dimensions: total volume foundation, New Energy matrix, premiumization, technology reserve, and globalization.

I. Total Volume Foundation: 8 Consecutive Months of Dual Growth, It's Never About Spiking High, But Withstanding Volatility

A single monthly spike can be achieved through marketing nodes; achieving dual month-over-month and year-on-year growth for 8 consecutive months tests the thickness of a company's foundation to navigate industry cycles.

In October, Geely Group sales reached 310,183 units, up 6% month-over-month. Looking at segments, Geely Brand sold 255,742 units, up 8% year-on-year and 4% month-over-month; Zeekr delivered 32,483 units, up 52% year-on-year; Lynk & Co sold 21,958 units, up 19% month-over-month. All three segments moved upward in the same direction, avoiding an overall decline caused by the failure of a single pillar.

The stability of the fuel base is equally key. Geely China Star sales reached 102,357 units in October, retaining the title of China Brand Fuel Passenger Vehicle Sales Champion for the 10th consecutive year. Among them, the Boyue Family contributed 25,075 units, while the China Star Premium Series sold 39,094 units, with a cumulative historical sales volume exceeding 2 million vehicles. Against the backdrop of a continuous contraction in the overall fuel vehicle market, this business line did not passively wait for shrinkage but proactively shifted gears and upgraded using HEV technology: i-HEV models sold 19,631 units in October, accounting for over 19% of China Star sales, with cumulative sales approaching 76,000 vehicles. Standing firm on both oil and electric legs is the underlying reason why the 8-month dual growth showed no interruption.

Figure 1 Geely Automobile October Group Sales Performance Report

II. New Energy Matrix: From One Xingyuan Ruling the Market to Multi-Model Synergy for Volume

The true significance of breaking the 200,000-unit mark in a single month lies not in setting a record, but in the model structure supporting the record having changed.

In October, Geely New Energy product sales (including Geely, Lynk & Co, Zeekr) reached 214,996 units, up 21% year-on-year, breaking the 200,000-unit mark in a single month for the first time and setting a historical high. The New Energy sales share reached 69.31%, also breaking the historical record. This means New Energy has transformed from a marginal contributor to growth into the actual foundation of the Group's sales volume.

The volume-driving Galaxry Brand sold 153,385 units in October, setting a new monthly sales record. Cumulative sales from January to October reached 1,030,569 units, solidifying its position in the first tier of mainstream New Energy. Among them, Galaxy Xingyuan sold 71,337 units, with monthly sales exceeding 50,000 units for 5 consecutive months; the 1 millionth mass-produced whole vehicle officially rolled off the production line at the Xiangtan manufacturing base, with one vehicle rolling off the line every 55 seconds on average, breaking the global automotive market record for one-million-vehicle roll-off speed. The phase where one car alone carries the market load is passing: waist models like Xingjian sold 25,476 units in July, Galaxy E5 sold 14,194 units, with stable breakthroughs over 10,000 units for consecutive months; upward breakthrough models are taking over, with the C-class AI pure electric sports sedan Galaxy TT delivering 10,225 units in its first complete delivery month; on October 10, the New Energy rugged SUV Galaxy Warship 700 launched. Confirmed orders broke 10,000 units within 12 minutes of launch, with monthly sales reaching 8,285 units.

From mainstream home use to pure electric sports coupes to rugged off-road, the Galaxy product line is completing its length and width. The value of matrix sales lies in: when the popularity of a single model fluctuates, the overall market load has other models to support it, thereby significantly enhancing the certainty of growth.

Figure 2 Geely Xingyuan 1 Millionth Whole Vehicle Officially Rols Off the Line at Xiangtan Base

Figure 3 Galaxy Warship 700: A New Option for Rugged SUVs in the New Energy Era

III. Premiumization Report: Scale and Premium Value Established Simultaneously, Breaking the Habit of "Volume Without Price"

The difficulty in building a premium brand domestically is not in selling a single high-priced car, but in forming a stable scale for high-priced cars; Zeekr's October data offers a feasible sample.

In October, Zeekr deliveries reached 32,483 units, up 52% year-on-year, with monthly sales exceeding 30,000 units for 7 consecutive months; cumulative deliveries from January to October exceeded 320,000 units, up 94.4% year-on-year, with an average transaction price close to 370,000 Yuan, completing the 300,000-unit annual sales target. There is also a product foothold in the high-price segment: Zeekr 9X delivered 6,030 units this month, with an average transaction price per vehicle above 530,000 Yuan. More than 80% of owners actively recommend it, ranking first in sales volume for vehicles above 500,000 Yuan from January to September; Zeekr 009 topped the sales volume ranking for pure electric MPVs above 400,000 Yuan from January to September. Meanwhile, Zeekr overseas deliveries in October reached 14,162 units, with monthly sales exceeding 10,000 units for 3 consecutive months. Overseas sales share exceeded 40%, with premium models copying product power verified in the domestic market to the global market.

On the other pole, Lynk & Co is in a stage of stabilizing and recovering: October sales reached 21,958 units, up 19% month-over-month. New Energy model share exceeded 80%, with Lynk & Co 07 GT retaining the title of China Wagon Sales Champion for two consecutive months. Achievements off the track also feed back into brand perception—Lynk & Co swept the annual Team, Driver, and Vehicle Championship three titles in the 2026 season TCR China Championship, solidifying the tag of "China's Number 1 Automotive Sports Brand" with racing results. One is responsible for scaling up volume, the other is in a storage phase after structural adjustment; the two together constitute the price ladder product tier of the Group.

Figure 4 Lynk & Co Sweeps 2026 Season TCR China Championship Team, Driver, Vehicle Three Championships

IV. Technology Dark Line: Smart Driving for Mass Scale, Charging Energy Building Eco-Network, Methanol Reserve for Long-Term Options

Monthly sales reflect current product power, while what determines the industry ranking two years later is the technology layout buried beneath the report.

Regarding intelligence, the deployment scale of the Qianli Haohan assisted driving system and actual usage are simultaneously entering the scale stage. According to the "Qianli Haohan 2026 Mid-Autumn and National Day Travel Report", as of October 7, cumulative Qianli Haohan owners reached 1.073 million. Assisted driving activation rate was 93.9%, cumulative assisted driving mileage was 3.14 billion kilometers, up 252.6% year-on-year, leading the industry with two firsts: domestic brand deployment scale growth rate and assisted driving mileage growth rate. Unlike the route of concentrating deployment only on high-price flagship models, Geely relies on multi-brand, multi-price band models to bring assisted driving to more mass-market user groups. The real usage data at scale will in turn accelerate algorithm iteration.

Charging infrastructure is another mid-term infrastructure project. The Megawatt-level smart charging technology released by Geely has a single gun power reaching 2.2 Megawatts, combined with the industry's first AI temperature control technology and full-link five-end liquid cooling solution, setting a new benchmark for charging energy safety. At the network level, Geely is carrying out strategic cooperation with NIO in the charging and battery swap field. It plans to build 6,000 smart charging stations and over 20,000 smart charging guns by the end of 2026, and over 22,000 charging stations and over 100,000 charging guns by the end of 2027, promoting high-density "County Connectivity" coverage.

On long-term energy routes, Geely's next-generation methanol hybrid technology will be officially released on November 3. The world's first methanol hybrid family sedan Galaxy Starshine 6 EF will also go on sale soon. Previously, the vehicle completed ground shuttle trials as the conference's official designated vehicle. Smart driving corresponds to current popularity, charging energy corresponds to mid-term ecosystem, methanol corresponds to long-term energy options. The three technology lines constitute a tiered reserve in the time dimension.

Figure 5 Qianli Haohan Deployment Volume and Assisted Driving Mileage Growth Rate Dual Firsts

Figure 6 Galaxy Starshine 6 EF: World's First Methanol Hybrid Family Sedan Launching Soon

V. Globalization 2.0: After Exports Exceed 100,000 Units for 5 Consecutive Months, the Competition Is Root Depth

Early overseas expansion competed on single-car price-performance; current overseas expansion competes on comprehensive system capabilities of channels, brands, and localization operations.

In October, Geely overseas export sales reached 107,153 units, up 158% year-on-year, with single-month exports exceeding 100,000 units for 5 consecutive months. Structural changes are even more worth noting: New Energy product exports reached 82,565 units in the same month, skyrocketing 506% year-on-year, with New Energy share of export sales rising to 77%. Cumulative exports for the first three quarters reached 798,000 units, up 169%. The contour of the second growth curve is clearly visible.

Market layout is moving from single-point breakthrough to multi-regional synergy. At the 2026 Paris Auto Show, Geely debuted for the first time with a Group line-up bringing Geely, Lynk & Co, and Zeekr three brands to the collective stage, with core technologies such as SEA-S Galaxy Architecture and Smart Electric Drive displayed externally; in September, sales of Geely, Lynk & Co, and Zeekr in Europe exceeded 10,000 units in a single month for the first time. In the UK market, the 100th retail outlet was signed up. Entering the market for only 11 months, cumulative vehicle registrations broke 10,000 units, with September single-month registrations exceeding 5,000 units. On October 9, Geely announced formal entry into the Canadian market, with the first batch of models planned to meet consumers locally in 2027. Regional scorecards blossom in multiple points: Zeekr ranked first in luxury brand sales volume in Australia in the third quarter; in September, it rose to second in the Malaysian electric brand ranking; Geely took the top spot in China Brand Passenger Vehicle Sales in Panama in September.

From outputting products to laying out channels to precipitating local systems, Chinese brand overseas expansion has passed the phase of "whether there are cars to sell" and entered a new phase of "whether it can sustain rooting".

Figure 7 Geely Group Debuts at 2026 Paris Auto Show for the First Time with Three-Brand Line-up

Conclusion: The Moat Is Growth Structure, Not Single-Month Peak

Observing the five clues side-by-side yields a conclusion more complete than "310,000 units": the core driver of Geely's October growth is not the pulse-like explosion of a single new car, but the structural growth woven together by mainstream brands driving volume, premium brands commanding premiums, fuel foundation HEV-ization, multi-route technology reserves, and multi-regional overseas landing. Monthly figures fluctuate with seasons and promotional rhythms, while once the growth structure is formed, it brings resilience that transcends the cycle.

The fourth quarter ahead is still node-heavy: November 3 next-generation methanol hybrid technology will be officially released; November 5 the 2027 model Lynk & Co 08 EM-P goes on sale, Galaxy M8, Lynk & Co 900L, 2027 model Zeekr 7X and other new cars will be sequentially introduced; combined with the 40th Anniversary of Founding and Hangzhou Marathon "Add Energy Together" brand node, the market will still see dense product and buzz placement. For automakers at the 300,000 units monthly sales level, the true moat is never a single month's sales peak, but the growth structure behind the peak that does not rely on single points—this is precisely the reading focus this October report leaves for the industry.