China's Geely Automobile Holdings Ltd said on Monday first-half net profit fell 43%, as the coronavirus outbreak slammed the brakes on auto sales in the world's biggest market.
SHANGHAI - China’s Geely Automobile Holdings Ltd said on Monday first-half net profit fell 43%, as the coronavirus outbreak slammed the brakes on auto sales in the world’s biggest market.
Revenue fell 23% to 36.82 billion yuan, Geely said. The result compared with the 36.89 billion yuan average of three analyst estimates compiled by Refinitiv. Among rivals, first-half China sales fell 17% at Volkswagen AG , 25% at General Motors Co and 20% at local peer Great Wall Motor Co Ltd. Sales fell just 2.2% at Toyota Motors Corp.
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