Geely October exports climb 158 per cent to 107,153 vehicles as domestic sales fall

October sales near record despite slowing growth

Geely Auto sold 310,183 vehicles in October, up 0.99 per cent year on year and 6.17 per cent from September, according to company data released on Sunday and reported by CnEVPost. It was the company's second-highest monthly total on record, just 245 vehicles short of the 310,428 set in November 2025, and the third consecutive month in which sales reached a new high for the year. ¹

The year-on-year growth rate nonetheless slowed markedly, from above 5 per cent in each of the preceding three months, including 6.97 per cent in September, to under 1 per cent in October as the domestic decline deepened. The company's sales in China fell 23.55 per cent year on year to 203,030 vehicles, widening from September's 20.21 per cent drop, though domestic sales rose 9.46 per cent from September to their highest monthly level since January, CnEVPost reported. ¹

These figures are company-reported sales data for the Geely Auto group, as compiled by CnEVPost from company reports; the release does not distinguish between deliveries and wholesales, and no Australian breakdown of October volumes was provided. ¹

Exports drive the story, with the annual target nearly met

Exports totalled 107,153 vehicles in October, up 157.78 per cent year on year and 0.44 per cent from September, though below the record 110,094 set in August. Exports accounted for 35 per cent of total sales, down from 37 per cent in September, according to CnEVPost's report of the company figures. ¹

Exports in the first 10 months rose 167.94 per cent year on year to 904,823 vehicles, reaching 98 per cent of the company's full-year export target of 920,000 and leaving a gap of only about 15,000 vehicles. CnEVPost noted that target was raised from 640,000 on August 17. ¹

Separately, the company's September release reported sales outside China of 106,685 vehicles that month, up 162 per cent year on year and above 100,000 units for the fourth consecutive month, with new energy exports rising 403 per cent to 73,664 units, or 69 per cent of September's overseas sales. The nine-month overseas total stood at a record 797,670 vehicles, up 169 per cent. ⁵²

Electric models set a new monthly high

Geely's new energy vehicle sales rose 20.86 per cent year on year and 12.64 per cent month on month to 214,996 vehicles in October, exceeding 200,000 for the first time, with new energy models at a record 69 per cent of total sales, CnEVPost reported. ¹

Within that total, battery electric vehicle sales rose 43 per cent year on year to 140,758 vehicles, while plug-in hybrid sales fell 6.66 per cent to 74,238, having been largely flat year on year in September. ¹

By brand, the core Geely brand, including the Galaxy sub-brand, sold 255,742 vehicles in October, up 4.17 per cent year on year. Galaxy itself set a record of 153,385 vehicles, exceeding 150,000 for the first time, with 1,030,569 sold for the year to date. Zeekr sold 32,483 vehicles, up 51.63 per cent year on year but down 12.72 per cent from September in its first monthly decline since January, and Lynk & Co sold 21,958 vehicles, down 45.40 per cent year on year in its steepest contraction this year, though up 18.74 per cent month on month. ¹

Nine-month financials show record core profit, with a quarter that missed expectations

Geely Automobile Holdings reported total revenue of RMB 272.6 billion for the first nine months of 2026, and core net profit attributable to owners of the parent rose 41 per cent year on year to a record RMB 14.9 billion, according to the company's press release distributed via Globe Newswire. Gross margin reached 18 per cent and core net profit per vehicle rose 37 per cent to RMB 6,664. ²

The third quarter was the company's strongest on record for both revenue and core profit, with revenue up 10 per cent year on year to RMB 98.96 billion and core net profit up 32 per cent to RMB 5.21 billion, per the company's release. Zeekr delivered 288,404 vehicles in the nine-month period with sales and revenue doubling, and its share of group revenue rose from 17.7 per cent to 31.3 per cent, while Lynk & Co sold 196,117 vehicles with more than 70 per cent new energy, and sales outside China up 151 per cent. ²

There is a conflict in reported nine-month revenue growth: CLB.org.hk reported revenue rising 13 per cent to 272.56 billion yuan, while the company press release carried by Yahoo Finance and EV.com put the increase at 3 per cent. The underlying revenue level of about RMB 272.6 billion is consistent across sources; the differing growth percentages appear to reflect different prior-period bases or figures, and the discrepancy is not resolved in the available material. ⁴²³

Net profit is a separate measure from core net profit. CLB.org.hk reported nine-month net profit up 7 per cent to 13.93 billion yuan and third-quarter net profit up 28 per cent to 4.84 billion yuan, based on an exchange filing. Caixin Global reported that the quarterly net profit of about 4.8 billion yuan fell short of analyst expectations of 5.5 billion to 6 billion yuan, with Vice Chairman Gui Shengyue speaking to the miss at an earnings briefing, amid mounting competition and weakening demand in China's auto market. ⁴⁶

Export mix and overseas ambitions, including an Australian data point

New energy vehicles accounted for 61 per cent of Geely's 797,670 exports in the first nine months, with new energy export volumes growing 531 per cent to 484,086 units, according to the company's September release. The company said it is targeting one million sales outside China in 2026 and credited models including the Geely E2/EX2, Geely EX5 EM-i, Geely EX5, Lynk & Co 08, Zeekr 7X, Zeekr X and Zeekr 009 with leading sales positions in several overseas markets. ²⁵

The company's September release also noted the Geely brand recorded sales of more than 4,500 vehicles in Australia in August, alongside cumulative sales exceeding 36,000 vehicles in Brazil and 10,000 in the UK. Geely said it plans to bring additional models abroad, including the Geely Emgrand EM-i, Geely Zhanjian 700 and Lynk & Co 07 GT. ⁵²

Looking at the full-year picture, CnEVPost reported that Geely Auto sold 2,545,664 vehicles in the first 10 months, up 2.76 per cent year on year and representing 74 per cent of its 3,450,000-vehicle annual target. Meeting that goal would require an average of about 452,000 vehicles per month in the final two months, well above the company's record of 310,428. ¹

CnEVPost also noted in its roundup of major Chinese automakers' October deliveries that Xpeng's monthly deliveries topped 50,000 for the first time, while Nio and Li Auto both saw declines. Whether Geely's export surge reflects sustained demand, supply or pricing factors is not established by the sales data alone. ¹