Chinese vehicle maker Geely Automobile reported a 19% year-on-year decline in sales volume in April to 103,908 units, according a stock exchange filing with the Hong Kong stock exchange.
The figure is 17% lower than that in March, it said. The sales for the domestic market was 96,836 units, down 24% year on year. The sales volume for the first four months decreased by 9% year on year to 470,496 units, representing about 31% of its annual sales target of 1.51 million units.
Geely’s shares closed 1.9% lower on Wednesday to HK$ 14.36 per share.
In addition, senior management of the Chinese automaker have been selling their shares in the company recently. An Conghui, president of Zhejiang Geely Holding Group and chief executive of Geely Automobile, has sold a combined 16.17 million shares on April 16 and 17.
Geely Holdings’ deputy chairman Yang Jian and chief financial officer Li Donghui also reduced their holdings in April.
Chinese automakers have been facing headwinds since last year. Most listed major automakers reported profit declines in the first quarter.