Geely says it doubles earnings during 2016

Geely Automobile Holdings on Wednesday reported its biggest profit growth in eight years, as improved product design and engineering following its 2010 pur- chase of Sweden’s Volvo helped propel it to record sales.

For 2016, net profit more than doubled to 5.1 billion yuan ($ 741 million), its strongest growth since 2008.

Geely, which also owns the maker of London’s black cabs, has already forecast a 31 percent jump in sales for the current year as affordable models introduced after the Volvo acquisition, such as its GC9 sedan and Boyue sport utility vehicle, exceed initial estimates.

Geely’s China sales grew 50 percent last year to 766,000 vehicles, powered by the GC9 and Boyue, as well as small cars