Geely Auto recruits talents, bucking market slide

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Shanghai, November 4, 2008: (Gasgoo.com) While many Chinese automakers are cutting outputs and jobs, a few are defying the trend of the auto market downturn to expand their operations. Like SAIC-GM-Wuling, Geely Auto is recruiting more talents for its growth amid the crisis of China's auto industry, reported Shanghai Securities News today.

Recent news abounds that Chery Auto, Jianghuai Auto, Changan Ford and other carmakers in China have plans to lay off some employees and reduce the output, because these companies are unable to fulfill this year's sales targets and their inventories are piling up as a result of the persistent downturn in the auto market. And this disturbing market trend will likely carry over into 2009.

But contrary to the general crisis, the sales of SAIC-GM-Wuling Auto and Geely Auto have benn booming recently. In the first nine months this year, Geely Auto sold 167,939 vehicles, up 10.8% year on year (y/y), exported 38,116 units, up 86.52% y/y, and achieved sales revenue of 9.42 billion yuan ($1.38 billion), up 24.81% y/y.

"Although the auto industry is suffering from the global financial turmoil, the performance sales of Geely Auto have been satisfactory this year to date. We have not laid off any employees these days and are recruiting new talents instead," said a top executive of the privately-owned Chinese carmaker.

Sources said that Geely Auto started in mid-October to recruit nearly 600 graduates from 17 universities across China, and these new employees come from tens of study fields such as foreign languages, engineering dynamics and marketing & sales.

In another development, SAIC-GM-Wuling said last week that the joint venture company will not cut any jobs now and will give its employees a pay raise of 8% or so. Construction of its West Plant is just completed and this facility's upcoming operation will need more staff.

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