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Geely Auto warns 40% slump in first half profits, cuts 2019 sales target by 10%

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Chinese automaker Geely Automobile Holdings Ltd. warned 40 per cent slump in its first half earnings and lowered auto sales target for the whole year by 10 per cent, foreshadowing further pain across the sector, indicating the growth in China's auto sales last month may not be sustained.

Geely Auto lowered its 2019 sales target by 10 per cent to 1.36 million vehicles from the target of 1.51 million vehicles set earlier this year, according to its . . .

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