Arab Today, arab today geely profit climbs 13 on china demand
Last Updated : GMT 20:43:38
Arab Today, arab today
Arab Today, arab today

Geely profit climbs 13% on China demand

Arab Today, arab today

Arab Today, arab today Geely profit climbs 13% on China demand

Beijing - Arabstoday

Geely Automobile Holdings Ltd. (175), whose parent owns Volvo cars, posted a 13 percent gain in 2011 profit on Chinese demand for new vehicles. Net income rose to 1.54 billion yuan ($244 million), or 0.19 yuan a share, from 1.37 billion yuan, or 0.17 yuan, a year earlier, Geely said in a statement to the Hong Kong stock exchange today. That beat the 1.47 billion yuan average of 21 analyst estimates compiled by Bloomberg. China has stepped up efforts to help Geely and other local automakers facing increased competition from foreign rivals such as General Motors Co. (GM) and Volkswagen AG. (VOW) The industry regulator has included 19 Geely models on its list of cars that government agencies can buy, shutting out overseas producers. The market share of local-brand cars, excluding minivans, multipurpose vehicles and SUVs, fell 1.78 percentage points to 29.11 percent last year, according to the China Association of Automobile Manufacturers. Geely’s vehicle sales rose 1 percent to 421,611 units in 2011, lagging behind the 5.2 percent gain of the passenger-car market in the country. The company is targeting a 9 percent increase in sales to 460,000 units this year, it said in January. Geely’s parent, Zhejiang Geely Holding Group Co. (GEELZ), signed a memorandum of understanding this month with its unit Volvo Cars to transfer vehicle technology to establish a new brand and enhance competitiveness.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today geely profit climbs 13 on china demand Arab Today, arab today geely profit climbs 13 on china demand

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today geely profit climbs 13 on china demand Arab Today, arab today geely profit climbs 13 on china demand

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Auto: أخبار السيارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday