FAW Jiefang Reports 42% YoY Increase in Overseas Sales in H1, 2022

August 31,2022

On August, 30, FAW Jiefang released its financial results for the first half of 2022. The financial report showed the company generated revenue of 22.872 billion yuan and net profit attributable to the mother company of 170 million yuan in the first half. In terms of sales volume, FAW Jiefang continued to maintain industry leadership, with 85,000 medium and heavy trucks sold and a terminal market share of 25.6%, up 1.7 percentage points from 2021 figures.
 

In the first half of this year, the overall commercial vehicle market saw a 42.1% drop to 1.702 million units, of which 437,000 units are medium and heavy trucks, down 62.1% year-on-year. This was mainly due to the repeated outbreaks of the epidemic in the first half of the year, as well as uncertainties in the global supply chain and rising oil prices.

As of end of July, FAW Jiefang has exported a total of 11,819 vehicles, an increase of nearly 50% year-on-year, and achieved sales breakthroughs in more and more markets such as Mongolia, Mexico and Nigeria. At present, FAW Jiefang has exported its products to 80 countries and regions in Southeast Asia, the Middle East, Latin America, Africa and Eastern Europe, and has over 70 first-level dealers and nearly 300 distributors in nearly 40 countries and regions around the world. In addition, FAW Jiefang has set up three overseas subsidiaries in South Africa, Russia and Tanzania to export products including J6, JH6 and Tiger V.

Source : www.chinatrucks.com

Editor : Mia

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