China's Geely Automobile trims full-year sales outlook after profit plunge

By Yilei Sun and Brenda Goh
SHANGHAI (Reuters) - Geely Automobile Holdings Ltd on Monday booked a 43% drop in half-year profit and trimmed its full-year sales goal, sending its shares down 4%, as the coronavirus outbreak continues to trouble the world's biggest auto market.
The results come as China's overall auto sales slowly recovers from a virus-blighted start to the year. Sales climbed for the fourth consecutive month in July yet are still down 12.7% for the year to date.
China's highest-profile automaker - due to group investments in Volvo Cars and Daimler AG - posted January-June net profit of 2.3 billion yuan ($331.37 million).
It sold 530,446 vehicles, down 19% on year, leaving revenue down 23% at 36.82 billion yuan, meeting analyst estimates.
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