purchase incentives

Geely Q1 profit slides 27% despite record revenue as domestic market lags

Geely reported a 27% YoY decline in Q1 2026 net profit to 4.17 billion yuan despite revenue hitting a record 83.8 billion yuan, up 15%. The automaker attributed the profit slump to foreign exchange losses while domestic sales struggle post purchase tax incentive phase-out. Sales volume grew only 1% to 700,940 units.