China's Geely Automobile Holdings Ltd said higher sales of its sedans and s...
BEIJING - China’s Geely Automobile Holdings Ltd said higher sales of its sedans and sports utility vehicles drove 2018 net profit up 18 percent, but forecast flat sales growth for this year due to uncertainty about overall domestic demand.
That compared with the 12.8 billion yuan average estimate of 34 analysts, according to Refinitiv data. The company said that the deterioration of consumer confidence in China, the world’s biggest auto market, caused by increased political and economic uncertainties had affected demand, but that its sales had only missed its own annual target by 5 percent.
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