Deliveries of Geely Automobile Holdings increased 2 percent year on year to 60,093 vehicles in January as strong sales of two improved models offset a plunge in exports and weak demand for its top-selling sedan.

 

The redesigned Kingkong sedan, which debuted in January, generated sales of 10,575 vehicles, more than doubling the number a year ago. Deliveries of the redesigned Vision jumped 26 percent to 14,646.

 

But sales of Geely's top-selling model, the New Emgrand compact car and its previous generation, dropped 8 percent to 22,512. And combined deliveries of Geely's three compact crossovers -- the GX7, SX7 and GX9 -- plunged 35 percent to 4,949.

 

While its domestic sales rose 6 percent year on year to 58,081 vehicles, Geely's exports plummeted 48 percent to 2,012, due to shrinking sales in emerging markets such as Russia and Ukraine.

 

This year, Geely plans to boost sales 18 percent to 600,000 vehicles. The company is improving several models and is introducing new models based on a compact car platform it has jointly developed with Volvo Car Corp.

 

Last year, Geely's vehicle sales rose 22 percent year on year to 509,863. Thanks to strong vehicle sales, Geely expects its net income in 2015 to exceed 2.1 billion yuan, or $321.5 million. In 2014, it posted net income of 1.43 billion yuan.

 

Geely, headquartered in the east China city of Hangzhou, is listed on the Hong Kong exchange. Its parent, Zhejiang Geely Holding Group Co., also owns Volvo Cars.