(Yicai Global) Jan. 9 -- Leading Chinese automaker Geely Automobile Holdings Ltd. [HK: 0175] yesterday announced its sales target for this year, which has jumped 27 percent from last year to 1.6 million units.
Geely Auto sold a record 153,625 cars in December, up 42 percent from the same period last year and a 9 percent increase on November. The company moved 1.25 million cars last year, up 63 percent over 2016, and topping the Company's sales target of 1.1 million set at the start of last year.
Geely Auto and Volvo Car AB jointly inaugurated their joint-venture brand Lynk in July, with each holding 50 percent of shares. The brand's first model, Lynk 01, officially debuted at November's end and 6,012 cars sold in December, besting management expectations.
Geely Auto parent Zhejiang Geely Holding Group Co. acquired Volvo Car as a wholly-owned subsidiary for USD1.5 billion in 2010.