China's Geely Auto 2009 net profit up 35pc | The Daily Star
12:00 AM, April 13, 2010 / LAST MODIFIED: 12:00 AM, April 13, 2010

China's Geely Auto 2009 net profit up 35pc

Geely Automobile Holdings Ltd said Monday its 2009 net profit rose 35 percent from a year earlier, helped by government incentives aimed at driving up sales of small cars.
The auto maker, whose parent is buying Volvo Cars, sold 326,710 units last year, up 60 percent from 2008, lifting its share of China's sedan market to over four percent, according to a statement to the Hong Kong Stock Exchange.
Geely -- the listed unit of Zhejiang Geely Holding, one of China's largest private carmakers -- said full-year net profit rose to 1.18 billion yuan (173 million dollars) in 2009 from 879.1 million yuan in the previous year.
"The increase was partly helped by the government's policies to promote economy sedans but also as a result of the improving product quality and rising customers' satisfaction over Geely's products," the statement said.

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