By Sophie Lindqvist

Geely Auto Group has reported record revenue and net profit for the first three quarters of a calendar year — against the backdrop of a Chinese passenger vehicle market that has now fallen for thirteen consecutive months. The claim deserves scrutiny, but the underlying numbers hold up on the evidence available.

The China Passenger Car Association (CPCA, the industry's wholesale-data body) recorded a 27 per cent plunge in passenger vehicle wholesales in October. That is the thirteenth successive monthly fall. In hard terms, the market is down by more than four million vehicles against the first ten months of 2025.

How does Geely escape the collapse?

New models, additional variants and aggressive pricing appear to be the drivers. The Geely brand sits second in its home market behind BYD and has declined less than the market overall — a relative claim, not proof of immunity. The company is also younger than its main rivals: unlike state-owned giants FAW and SAIC, Geely is not yet a quarter-century old. That anniversary arrives in March 2028.

Its global expansion has been fast enough that betting against it becoming one of the world's major carmakers (OEMs) by decade-end would be unwise. The obvious gap is the United States. Geely has no presence there. The brand launches in Canada next year, though specifics remain under wraps — a familiar pattern of promise before detail.

What does the UK evidence show?

The UK is arguably Geely's clearest export success. Roughly a year ago there was no Geely in Britain at all. SMMT (the Society of Motor Manufacturers and Traders, the UK registration-data body) figures for October now place the brand 24th, ahead of Dacia and just 41 cars behind Citroën. Geely's year-to-date total of 16,669 vehicles also leads Leapmotor's 15,056 — Leapmotor being Stellantis' joint-venture partner, and itself surging.

The current UK range consists of three models:

• EX2 — small SUV, from GBP20,990
• EX5 — electric SUV, from GBP31,990
• Starray — plug-in hybrid (PHEV, a hybrid rechargeable from the mains) SUV, from GBP29,990

All Starray examples are currently imported from the Linhai factory in China.

The importer says this first-year roll-out was only the beginning, with the range set to double by the end of 2027. Two models lead the charge:

• Monjaro EM-i — a 4.8 m, five-seat, 1.5-litre PHEV SUV positioned above the Starray, arriving in the first quarter of 2027 in both front- and all-wheel drive. Pricing and specifications are unconfirmed; the car is due to be driven at a preview event on 25 January.
• Emgrand L EM-i — a PHEV saloon sold in China as the Galaxy Starshine 6 EF, expected next year, UK name possibly unchanged.

A 5.1 m flagship — the Battleship/Galaxy Cruiser 700 in China, name TBD in Europe — follows later in 2027. The Starray EM-i has also recently gained all-wheel drive in other right-hand-drive markets including Australia, where Geely is performing strongly; a UK hybrid variant looks probable, though nobody at the company has said so.

What is actually agreed with Ford?

Official news on what Geely and Ford plan for Ford's Valencia plant in Spain should arrive within six months. What is believed, rather than confirmed: Geely's Global Intelligent New Energy Architecture platform — which supports EV, HEV (conventional hybrid) and PHEV/EREV (extended-range) configurations — will underpin several vehicles built there from 2028. A second phase might give Ford its own ladder-chassis SUV derived from the Geely KO11, on the platform officially called GTA (Geely Terrain Architecture).

There is already a Renault deal in Brazil. The founder has said he favours eventual local production where it makes sense. Whether that ever extends to US production, or a partnership with a US major, is speculation — nothing more.

The competitive context cuts both ways

Value for money, not engineering brilliance, is winning UK buyers. Chery's Jaecoo 7 was again the country's best-selling car in October and should end the year second behind Ford's Puma — October year-to-date totals of 46,295 versus 42,797, with the Puma lagging by just 43 cars last month. Ford itself fell out of the UK top ten in October with a 35 per cent year-on-year plunge; Jaecoo and BYD took positions eight and nine. Geely's EX2, EX5 and Starray are, in one assessment, "six to eight out of ten cars" — slightly better than they need to be, and not bad anywhere.

The open question: how long until Geely joins its Chinese rivals in that top ten? The company promises much — a doubled range, Spanish production, a Canadian launch. Each promise so far carries a caveat: names unconfirmed, prices unconfirmed, details under wraps. The record profit, at least, is on the books.