Geely Predicts Slower Sales Growth After Missing 2013 Target

Geely Automobile Holdings Ltd., the Chinese automaker whose parent owns Volvo Cars, predicted its sales growth will slow this year to less than half the pace of 2013 and trail the industry in the world’s largest auto market.

Deliveries will climb by about 6 percent to 580,000 units, the Hong Kong-based company said in a statement to the city’s stock exchange yesterday. The automaker boosted sales by 14 percent to 549,518 units last year, missing its own 560,000 target. The China Association of Automobile Manufacturers forecast industry demand will expand by 8 percent to 10 percent.