Geely Auto, 175 HK, fixed a typo today – stating that the sales of its King Kong sedan were 2,258 for July, not 3,757 as earlier reported. The 3,757 just happened to be exactly the number they reported for June. While it’s a small amount, it still would impact the monthly sales change – previously shown at 64% based on July 2015, and 16.3% year to date versus earlier calculated 16.75% and a sequential change of 1.6% vs. previously calculated 4.18%. (I’m assuming the change to the total, the correction didn’t).
Based on data from HK filings
While it’s admittedly a small change, it does make you wonder whether the other numbers are correct. Truthfully, Geely could do with a spreadsheet presentation rather than the primitive basis they currently use. Of course if they did, it would be easier to see the steady decline in all sedans, including the King Kong.
Source: HK filings – started at March since Jan and Feb were combined.
While they made up the decline with the better sales of SUV’S and the new crossover, sedans were still 64% of their units sold in July. As shown above, every category of sedan is declining, even the relatively successful Emgrand. A new release of the Emgrand, the Emgrand GL, is scheduled for a September release, which may help reverse the slide. It reportedly will come with a 1.3 turbo and a 1.8. The 1.3 would be eligible for the 50% tax cut good through December while the 1.8 would exceed the maximum 1.6 level for the cut.
Source: HK filings
The correction hasn’t hurt the stock.