1.93 Million Units Sold in Half a Year, How Did Geely Achieve a New Record High Again?

Recently, Geely Holding Group announced its performance for the first half of 2026, once again becoming the focus of industry attention.

Data shows that Geely Holding Group's total sales volume in the first half of 2026 reached 1,934,842 units, setting a new historical record. Among them, new energy vehicle sales reached 1,100,893 units, a year-on-year increase of 10%, with new energy penetration rate further rising to 56.9%. In the first half, Geely Automobile Holdings Limited (0175.HK) sold 1,422,958 units, setting a new high for the same period; new energy vehicle sales (including Geely, Lynk & Co, Zeekr) were 799,454 units, a year-on-year increase of 10%, with a new energy penetration rate of 56%.

According to CPCA data, Geely Automobile's domestic terminal retail sales volume in the first half of the year was 1.021 million units, ranking first in China's passenger car domestic sales for the first half of 2026, and also the only domestic brand to exceed sales of one million units.

However, to truly understand Geely's "new historical record" this time, one cannot only look at the total volume of 1.93 million units, nor stay only at the domestic first place of 1.021 million units. What is more worth asking is: Against the backdrop of slowing industry growth, divergent user demands, and intensifying global competition, what exactly does Geely rely on to beat the market?

It can be said that Geely's performance in the first half of the year was not just a refresh of sales records, but a concentrated realization of its long-term system capabilities once again.

In Geely's first-half performance report, several "Firsts" stood out especially.

Among them, Geely China Star sales reached 581,000 units, firmly holding the first place in domestic brand fuel vehicle sales; Zeekr delivered 178,000 units, a year-on-year increase of 97%, with delivery growth rate ranking first in the luxury new energy market. At the same time, Geely Xingyuan monthly sales broke through 50,000 units, cumulative sales exceeded 750,000 units since listing, continuously reigning as the sales champion across all brands and categories, becoming a genuine national hit.

These "Firsts" seem to come from different tracks, but together reveal an important characteristic of Geely's growth: running fast, and walking steadily. Among them, China Star stabilizes the fuel vehicle base, continuing to maintain leadership in the stock market; Zeekr accelerates upward breakthrough, and Xingyuan continues to scale up in the mainstream new energy market.

Fuel and new energy, mainstream and high-end, scale and value, different sectors are not simply a zero-sum game, but gradually forming a mutually supportive growth structure. This balance is precisely the most worthy part of attention in Geely's first-half performance.

Supporting this balanced growth, on one hand is a multi-brand lineup with clear positioning and wide coverage; on the other hand, it is the continuous deepening of the "One Geely" strategic integration.

Not long ago, Geely Holding Group Chairman Li Shufu publicly stated that they will orderly close, cancel, and merge relevant redundant entities of Geely Automobile Group Co., Ltd., focusing advantageous resources to strengthen the core listed platform of Geely Automobile Holdings Limited. This more precise resource allocation for different market cycles and user needs is also further improving the operating efficiency and anti-cycle ability of the entire group.

From this perspective, what Geely truly deserves attention to is not just how many "Firsts" were captured, but behind these "Firsts", a growth system balancing scale, structure, and efficiency is forming. This ability to hold the base while continuously opening up new volume is the key for Geely to traverse industry cycles and maintain long-term leadership.

Another important growth lever for Geely comes from the overseas market.

From the performance in the first half of the year, Geely's overseas business is entering an accelerated realization period. Its overseas sales reached 474,228 units, a year-on-year increase of 158%, exceeding the total export sales of 2025. More worth noting is that its overseas growth is not mainly relying on traditional fuel vehicles for volume, but simultaneously upgrading towards new energy and high-end. Its new energy product export sales in the first half were 277,000 units, a surge of 585% year-on-year, with new energy proportion reaching 58%. This means Geely's overseas business growth logic is gradually shifting to relying on new energy technology, product experience, and brand value to open up incremental space.

Among them, Geely Galaxy new energy products entered the top sales ranks in multiple overseas markets; Zeekr won championships in niche markets of countries such as Thailand, Malaysia, Mexico.

This global synergy is also reflected in the performance of other brands under Geely Holding Group. Among them, Volvo Cars sold 325,000 units in the first half, of which new energy sales were 161,000 units, a year-on-year increase of 3.8%, with new energy penetration rate 50%. Pure electric model deliveries grew for 9 consecutive months, and new energy transformation continued to breakthrough.

In addition, Polestar Cars sold 30,400 units in the first half, setting a new historical record, achieving sales breakthroughs in major markets such as the UK, Germany, and South Korea. Proton Cars sold 100,300 units in the first half, a year-on-year increase of 39.1%, creating the best sales performance since 2011. It is worth mentioning that the Proton e.MAS 7 PHEV launched in February of this year continued to sell well, leading the Malaysian plug-in hybrid niche market.

Of course, a new historical record is only an interim result. Another issue worth noting is, with Geely having already stood on a new step, what cards does it have in hand for the second half of the year?

From the currently released information, Geely's new product and technology offensive in the second half of the year remains dense. First is Geely Galaxy TT. As a mid-to-large pure electric sedan, its body length reaches 4999mm, wheelbase is 2920mm, and it will match the Qianli Haohan H7 assisted driving solution. From the product positioning perspective, Galaxy TT targets young consumers' needs for sports design, smart experience, and personality expression, and also means Geely Galaxy will further extend to the higher value pure electric sedan market.

While products break through upwards, Geely's technical base is also continuing to upgrade. On July 16, Geely Galaxy's global first "Thunder 16-in-1 Intelligent Electric Drive" is about to be launched, native adapted to 800V high voltage platform, and 16 categories of functional modules including motors, silicon carbide electronic control, whole vehicle thermal management, etc. are highly integrated. The "16-in-1" will also be systemically integrated to further optimize whole vehicle space, weight, energy consumption and cost, continuously enhancing Geely Galaxy's competitive barrier.

Additionally, the imminent arrival of Galaxy Warship 700 also means that Geely will officially enter the new track of plug-in hybrid hard-core SUVs, which combines growth potential and profit margins.

For an enterprise that has already stood at the forefront of the Chinese automobile market, "selling more" is only the first stage; how to improve efficiency while expanding scale, how to maintain business quality during new energy transformation, and how to replicate domestic competitiveness to the global market are the questions that must be answered to become a world-class automobile group. And Geely is steadily walking on this path of advanced development.