In H1 2026, China's auto market showed a "cold domestic, hot overseas" pattern — passenger vehicle retail slumped ~20% while exports jumped 65.3%. Against this backdrop, Geely Holding delivered standout results: 1.93 million units sold (a record high), NEV penetration rising to 56.9% vs. the industry average of 49.6%. ZEEKR sales soared 97%, while exports surged 158%, with monthly exports breaching 100,000 units for the first time in June.
Data Highlights: Geely's Core Growth Metrics
China's auto market faced significant headwinds in H1 2026. According to MIIT and CAAM data, national vehicle production and sales reached 14.993 million and 15.017 million units respectively, down 4% and 4.1% year-on-year. Passenger vehicle retail totaled approximately 8.75 million units, a sharp decline of about 20%.
Yet the export picture told a completely different story:
- Overseas shipments reached 5.096 million units, up 65.3% year-on-year
- New-energy vehicle exports hit 2.355 million units, surging 2.2 times
Against this "cold domestic, hot overseas" backdrop, Geely Holding Group's July 15 sales disclosure stood out.
Geely Holding H1 Performance Breakdown
Geely Holding Group achieved total sales of 1,934,842 vehicles in H1 2026, a record high for the period. Key figures include:
- NEV sales reached 1,100,893 units, up 10% year-on-year
- NEV penetration rate hit 56.9%, outpacing the industry average of 49.6%
For listed Geely Auto (encompassing Geely, Lynk & Co, and ZEEKR brands), H1 NEV sales reached 799,454 units, representing a 56% penetration rate.
Sub-Brand Performance Overview
| Brand | H1 Sales | YoY Growth | NEV Share | Key Highlight |
|---|---|---|---|---|
| ZEEKR | 178,000 units | +97% | 100% | Fastest growth among luxury NEV brands |
| Lynk & Co | 144,000 units | — | 65% | Majority NEV sales |
| Geely Galaxy | 520,000 units | — | 100% | Steady model performance |
| Geely China Star | 581,000 units | — | 0% | Top-selling domestic ICE series |
| Volvo Cars | 325,000 units | +3.8% | 50% | Global NEV penetration at 50% |
| Polestar | 30,400 units | Record | 100% | Best-ever H1 performance |
Exports Emerge as the Top Growth Engine
Geely Auto's overseas performance was particularly striking:
- H1 exports reached 474,228 units, surging 158% year-on-year
- Already surpassing the full-year 2025 export total
- June monthly exports breached 100,000 units for the first time, hitting 102,874
- NEV exports totaled 277,189 units, soaring 585% year-on-year and accounting for 58% of total exports
Strategic Drivers Behind the Growth
Geely's ability to grow against industry headwinds stems from several core factors:
- Multi-brand matrix covering all price segments: From entry-level Galaxy to luxury ZEEKR, forming a complete product ladder
- Dual PHEV + BEV strategy: The Raytheon EM-i hybrid system achieves 46.5% thermal efficiency, competitive in the PHEV market
- Accelerated global capacity deployment: Localized strategies advancing simultaneously in Europe, Southeast Asia, and the Middle East
- Continuous smart tech investment: Standard LiDAR and urban NOA features being brought down to mainstream price points
Implications for Overseas Markets
Geely's growth trajectory offers an important reference for Chinese automakers going global. With NEVs now comprising 58% of its export mix, overseas markets are rapidly embracing Chinese new-energy products. For dealers and importers in Central Asia, Russia, and Eastern Europe, Geely's brand portfolio — particularly the Galaxy and ZEEKR lineups — deserves close attention. For more brand updates and market data, visit EX1000.COM.
