China's Heavy-duty Truck Sales Grew by 35% Year-on-year in the First Eight Months of This Year
Affected by various factors, the market sales of China's heavy-duty trucks grew rapidly year-on-year this year. From January to August, the market sales of China's heavy-duty trucks were about 1,083,500 units, a year-on-year increase of 35%. Analysts said that the market sales growth combined with high demand, the annual sales of heavy-duty trucks is expected to reach 1.4 million units this year. The production and sales bulletin released by Foton Motor on the evening of September 2 showed that the automobile sales volume in the first eight months was 439,100 units, an increase of 26.46% year on year. Among them, the cumulative sales of heavy-duty goods vehicles was 105,300, up 83.93% year on year. According to data from The First Commercial Vehicle Network, FAW Jiefang sold 293,100 vehicles in the first eight months, an increase of 41% year-on-year. The market sales of Dongfeng Group were 206,000 units, an increase of 29% from a year earlier. Sinotruk sold 160,700 automobiles, an increase of 27% year on year. Shaanxi Automobile Group sold 148,700 automobiles, an increase of 24% from a year earlier. In addition, a number of auto industry chain companies have outstanding performance in the first half of the year. The semi-annual report of Sinotruck, the leading high-end heavy truck company, shows that the company realized 26.615 billion yuan of operating income during the reporting period, up 18.46% year on year. Aofu Environmental Technology, a listed company in the automobile exhaust treatment industry, achieved an operating income of 150 million yuan in the first half of the year, up 14.50% year-on-year. Yodon, a listed company of auto parts driving shaft, realized operating income of 1.02 billion yuan in the first half of the year, with a year-on-year growth of 9.1%. The main reasons for the rapid increase in demand in the heavy-duty truck in China this year are: (1) during the epidemic at the beginning of the year, a large number of infrastructure projects such as makeshift hospitals were launched, as well as new infrastructure stimulus policies, which greatly increased the demand for heavy truck construction projects; (2) According to the analysis of Citic Securities, the early elimination of GUO3 diesel heavy duty automobiles promotes the upgrading of heavy duty trucks. Some regions begin to restrict the operation of Guo4 vehicles, and the overload control in many places becomes stricter, which promotes the rapid increase of the demand for compliant heavy duty trucks, standard heavy duty trucks and lightweight heavy duty trucks.