Geely Group reported total sales of 938,000 vehicles in the first quarter of 2026, down slightly by around 1% year-on-year. New energy vehicle sales reached 491,000 units, up 5.8% year-on-year, with penetration rising to 52.4%. Against a broader market backdrop where production and sales fell 6.9% and 5.6% respectively in the first quarter, Geely outperformed the industry trend, gaining market share. By brand, Geely Auto delivered 709,000 units in the quarter, a record high for the same period. NEV sales across Geely, Lynk & Co, and Zeekr totaled 369,000 units, up 9% year-on-year. At the sub-brand level, Zeekr delivered 77,000 units, Lynk & Co 82,000 units, and Geely Galaxy 239,000 units. The China Star series recorded 312,000 units, down 6% year-on-year. Overseas markets emerged as a key growth driver. Geely’s exports reached 200,000 units in the first quarter, up 126% year-on-year, setting a new record. In Europe, the group has established brand presence across five core markets: Spain, Germany, the Netherlands, Belgium, and Luxembourg. In Southeast Asia, deliveries of the Geely Xingyuan (Geely EX2 in overseas markets) have begun alongside localized production initiatives. Geely Xingyuan (marketed as Geely EX2 in overseas markets) Lynk & Co and Zeekr are accelerating expansion into Latin America and the Middle East, bringing total market coverage to nearly 20 key regions. At the group level, multi-brand synergies are becoming more evident. Volvo Cars delivered 153,000 units in the first quarter, with pure electric models rising 12% year-on-year and NEV penetration reaching 47.3%, marking six consecutive months of growth. Polestar reported sales of 13,126 units, up 7% year-on-year, with its retail network expanding 50% to 230 outlets. Proton e.MAS 5 in Malaysia Proton recorded 49,140 units in the quarter, its highest level since 2004, with the Proton e.MAS 5 selling 6,701 units and ranking first in Malaysia’s EV market. The commercial vehicle segment also maintained growth. Geely’s Farizon New Energy Commercial Vehicles exceeded 28,000 units in first-quarter sales, with batch deliveries already underway across Europe, Asia-Pacific, the Middle East, and the Americas.
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