Geely profit falls as weak demand hits China automakers
Geely Automobile Holdings Ltd.’s first-quarter profit missed analyst expectations as China’s auto market weakened following the winding back of government subsidies. Net income declined 27% to 4.2 billion yuan ($614 million) in the three months ended March 31, compared with 5.7 billion yuan the previous year, the Hong Kong-listed arm of billionaire Li Shufu’s auto…
