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Wow, Geely is really making some progress. I hope other Chinese companies can follow their lead and develop their own advanced engines, and reduce reliance on foreign suppliers for advanced components of their cars.
 

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Geely-Maple powertrain technology

hazik said:
... What engine did the FC1 use before......
Hazik I'm curious too about the FC1 engine and other engines used by Geely and Maple. So much has been said about Chery and Lifan's engine development but not others like Geely. This seems like a big leap for them.

As far as I know early on Geely purchased engines from the Daihatsu-Tianjin joint venture, ie Toyota made. Then it began making the same engines on it's own, apparently clashing in court with Toyota, and finally getting a license to produce them. I believe most were the 8A-FE a small 4 cylinder.

Maybe someone else can shed some light on this....

Actually engines are easy, it's the automatic transmissions that are tough to produce independently
 

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Good news but how reliable would this engine be in the longterm since it wasn't designed by an outside engineering firm? Chery and Brilliance had experienced engineering firms design their engines so I don't know about this. I don't mean this as a putdown but its just I don't believe that Geely would have the proper experience and knowhow to do this correctly.
 

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Geely to up capacity to 400,000 units by end-2007

Sep. 1, 2006 (China Knowledge) - Geely Automobile Holdings Ltd., a unit of the mainland's biggest privately- owned automaker, intends to increase its total capacity by 15% to 400,000 units by the end of 2007.

Geely Executive Director Lawrence Ang Siu-lun told a media briefing Thursday that the boost in production capacity will follow the completion of new production plants.

Ang believes that overall productions cost will also be reduced by as much as 10% when the production capacity peaks.

The Zhejiang-based company sold 8,347 vehicles in July - the weakest month this year - representing a 40% decline from June. July was the first month this year in which sales dipped below 10,000 units.

Ang was quoted in Hong Kong newspaper The Standard as saying: “I expect that the operating environment in China will remain tough in the next three months.” He also said that China's car industry has “hit a trough in the cycle".

Overinvestment in the fast-growing Chinese economy has resulted in Mainland automakers seeing lower profit growth. Therefore, the automakers are venturing overseas.

Geely is among a number of Chinese automakers like Chery and Great Wall that are exporting cars overseas. According to the Automobile Branch of the China Chamber of Commerce, China exported 34,506 sedans in the first half of 2006, up by 259.5% from the same period last year.

Geely has also indicated interest in new export markets such as the Middle East in order to boost revenues. The company exported 7,000 vehicles in 2005, mainly to Southeast Asia, and is aiming for 10,000 units this year.
 

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Geely sales up

The mainland's largest private auto maker Geely saw sales of its two joint ventures rise by 19.8 % year-on-year to 12,333 units in August.

"The sales beat management's estimate, because we previously thought August was a traditionally off-season for auto sales," said a spokesman yesterday.

From January to August, sales surged 48.4 % to 112,600 units, realizing 62.6 % of Geely's full-year target of 180,000.

 

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Geely Auto posts gains after selling pricier cars

Geely Auto posts gains after selling pricier cars
Jin Jing
2006-09-26
GEELY Automobile Holdings Ltd's profit soared nearly 200 percent to HK$123.7 million (US$15.8 million) in the year's first half, fueled by a sales increase in its higher-priced models, the company said yesterday.

The Hong Kong-listed company said sales revenue rose 93 percent on year to HK$69.3 million from January through June.

Two major subsidiaries, Shanghai Maple and Zhejiang Geely, were the big contributors.

Earnings also benefited from strong demand for a production line-up that moved upscale.

Shanghai Maple and Zhejiang-based Geely Automobile Co Ltd, China's leading private carmakers, netted combined sales revenue of HK$3.29 billion for the first six months. They sold 91,953 vehicles in the period, a 69 percent increase from a year ago.

Profit at the two carmakers advanced 190 percent to HK$294 million for the first half.

Geely, 46.8 percent owned by Geely Group, has rolled out more higher-priced models such as the Free Cruiser and King Kong sedans.

Half-year sales of the higher-priced cars accounted for 56 percent of the total, up from 38 percent from the same period last year.

Geely now holds a 4.8 percent share of China's passenger car market. The company aims to reach 5 percent by the end of this year.

As a whole, the country's carmakers experienced a slight drop in profit growth in July, according to the Ministry of Commerce.

China's auto industry manufacturers generated 41.7 billion yuan (US$5.2 billion) in profit for the first seven months, up 52.5 percent compared with the same period last year. The growth was 7 percentage points slower than the first half.

Sales revenue amonted to 848 billion yuan during the first seven months, up 29 percent from a year earlier and 1.2 percentage points below the first-half figure
http://www1.shanghaidaily.com/art/2...to_posts_gains_after_selling_pricier_cars.htm
 

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Geely FC1 launched this month Geely H1 profits triple

FC-1 will be on sale end of this month. costs is 100,000 rmb







Monday September 18, 3:07 PM
UPDATE 1-Chinese car maker Geely jumps after H1 net triples
(Adds analysts comments, updates stock performance)
By Alison Leung

HONG KONG, Sept 18 (Reuters) - Shares in Chinese car maker Geely Automobile Holdings Ltd. surged on Monday after topping rivals with a tripling in first-half earnings and unveiling plans to double capacity in two years, but a senior executive warned that margins could dwindle in the second half.

Geely, which makes some of China's cheapest cars, will launch a 100,000 yuan ($13,600), 1.8-litre "FC1" sedan by the end of the month, its latest salvo to grab market share in the world's third-largest vehicle arena.

The FC1 will be an advanced version of the "Free Cruiser", developed with South Korea's Daewoo International last year.

"We think our new model is comparable to South Korean and Japanese cars, but much will depend on the market's reception," executive director Lawrence Ang told Reuters in a telephone interview on Monday.

Shares of Geely ended Monday morning up 3.45 percent at HK$0.90, boosted by a 196 percent rise in interim net profit to HK$121 million (US$15.55 million).

But the smallest Hong Kong-listed car maker was cautious on the market's outlook in the second half as a price war intensified.

"We're on high alert. Our net profit margin in the first half was 8 percent and that could easily be eroded," Ang said.

Geely earlier this month cut prices on its "Free Cruiser" series by 1,000 yuan to 5,000 yuan, or an average of just below 5 percent, keeping pace with rivals' moves.

This followed a price cut in April in Geely's other models of between 4 percent and 10 percent.

However, analysts say Geely shares should benefit from falling oil and raw material prices, which could boost the firm's sales and reduce costs.

The Zhejiang-based auto maker said on Friday it planned to more than double its annual capacity to 650,000 cars in two years from 300,000 units by the end of 2006.

Geely's parent, controlled by founder and chairman Li Shufu, is investing an estimated 3 billion yuan to build four new plants with a total initial capacity of 300,000 units.

"Geely will buy stakes in these plants from the parent when construction is completed and ready for production," Ang said.

The company's two 46.8 percent-owned car maker units sold a total of 91,953 vehicles in the first half, up 60 percent from the same period last year -- satisfying 51 percent of an annual sales target of 180,000 units.

In the first eight months, Geely sold 48 percent more vehicles from a year earlier, or 112,633 units.

Geely also maintained an export target of 10,000 cars for 2006 after selling 4,000 abroad in the first half.

"We are preparing for that and significant exports should start in 2010," Ang added.

The stock has risen more than 180 percent this year,
outpacing a near 30 percent gain on the index for Chinese
companies listed in Hong Kong .
Some Hong Kong-listed Mkt cap p/e H1 net stock change
Chinese car maker (US$mln) 2006 pct yr-to-date
Dongfeng 3,322 11.1 +69 +56 pct
Denway 1,580 9.6 +30+11 pct
Brilliance 561 23.8 n/a +4 pct
Geely 464 21.8 +196+177 pct
Index for Chinese firms listed in Hong Kong +31 pct
Source: Reuters Estimates'
 

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emm , no , this is must be Geelys best offering yet , but still , it didn't convince me much , its just looks like a modified CK or shall we say an updated/upgraded version , and of course stll a Corrolla wanna be :)

What is the length and width of this one , simliar to the CK ?

For some reason the Headlights just dont match the car .. dunno why !
 

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If Geely can get the reliability, safety, and emissions right on this car, they can totally sell this car in the US against the Kia Rio, Hyundai Accent, and Chevy Aveo.

Offer the best warranty and dealer service of the bunch and sell for 10% less, and it will do very well.
 

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BringIt said:
If Geely can get the reliability, safety, and emissions right on this car, they can totally sell this car in the US against the Kia Rio, Hyundai Accent, and Chevy Aveo.

Offer the best warranty and dealer service of the bunch and sell for 10% less, and it will do very well.

If it's brought to the US it'll sell for alot more than $13,000. When you add shipping costs + dealer's cut + taxes it might go for as high as $18,000.
 

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What happened to the Chinese advantage of cheap labor??? Then how is ANY Chinese car going to compete in the US?

I don't think your guestimate on price is right. All cars sales for more in China for some reason.
 

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Geely Deal of the Day

Geely Automobiles Holdings Ltd. (0175.HK: Quote, Profile, Research) said it would pay 181 million yuan ($23 million) for a 46.8 percent stake in two Chinese joint ventures to make sedan related components and provide after-sales service. [nPEK218383]
 

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Chinese automaker Geely aims to double overseas sales

Beijing (ANTARA News/Asia Pulse) - Geely Automobile Co. is hoping to double its overseas sales this year. The Zhejiang-based private automaker is aiming to export 33,000 motor vehicles in 2007, up from 15,000 units last year, said Li Shufu, chairman of the company.

Li said the company was soliciting a new logo for its vehicles to bolster its image on the international market.

The firm, which began exports in 2003, has set up 128 shops overseas and exported 30,000 units to more than 40 countries. Its major markets are the Middle East, Southeast Asia and Eastern Europe.
 

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m14 said:
Beijing (ANTARA News/Asia Pulse) -

Li said the company was soliciting a new logo for its vehicles to bolster its image on the international market.
Li will need more than a fancy logo to bolster image in the international market:rolleyes:
 
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