0722 GMT - Geely Automobile's full-year 2024 sales volume is likely to increase 28% to 2.16 million units beating the company's target of 2.0 million units, says Deutsche Bank analyst Bin Wang in a note. The Chinese automaker sales volume in October rose 25% on-year to 226,686 units, a record monthly high, he notes. The company's robust sales momentum is attributed to strong sales of its electric vehicle and hybrid product lines. The company's new Geely Electric Architecture platform, an advanced technology platform to provide spatial design, flexible power options and cost reduction, could support sales ahead, DB adds. The brokerage maintains its buy rating for the stock, which is at HK$15.04. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
November 05, 2024 02:22 ET (07:22 GMT)
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