Geely Automobile: China’s Leading Car Stock
Geely Automobile Holdings Ltd (OTC: GELYF) isn't that well known outside of China. In fact, the company's most famous brand outside of China, Volvo, isn't Chinese at all. Geely bought Swedish carmaker Volvo in 2010 mainly to capture more growth in the Chinese market. Yet Geely is a large company and is also a component stock of Hong Kong's Hang Seng Index.
Geely isn't wrong to focus on the Chinese market. China's car market is the largest in the world. Despite the slowdown in its economy, China's largest auto industry association believes vehicle makers will ring up sales of over 26 million vehicles this year.
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Source Fool.com
