Tractor Sales in H1, 2024 Reached 162,100 Units, Up 4%
August 02,2024
June 2024 Tractor Sales: 25,400 Units, Up 4% Year-on-Year, Down 12% Month-on-Month
Tractor sales in June 2024 reached 25,400 units, a 4% increase compared to June 2023, but a 12% decrease compared to May 2024.
Key Highlights of the June and January-June 2024 Tractor Terminal Market:
June: Year-on-Year Increase, Month-on-Month Decrease
In June 2024, tractor sales saw a 4% year-on-year increase but declined by 12% compared to May 2024, reflecting mixed market dynamics.
Fluctuating Sales in the First Half of 2024
Analysis of terminal registration data from January to June 2024 reveals fluctuating monthly tractor sales trends, with peaks and dips. The first two months saw the lowest sales, followed by a peak in the middle two months, and a subsequent decline in the final two months. Year-on-year comparisons also showed irregular patterns.
Third Place in June and January-June Sales Compared to the Past Five Years
Tractor sales in June and the cumulative January-June period of 2024 ranked third compared to the same periods in the past five years. June's performance exceeded the heavy-duty truck market's April year-on-year decline of 4% by nearly 8 percentage points. Cumulative January-June sales outpaced the first half of 2024's heavy-duty truck market decline of 6% by almost 10 percentage points.
Outpacing the Heavy-Duty Truck Market in Year-on-Year Growth
Both June and January-June 2024 tractor sales outpaced the growth rates of the heavy-duty truck market. This was attributed to sluggish performance in construction vehicles such as dump trucks and mixers due to a sluggish real estate market and delays in new infrastructure projects, which had less impact on the tractor segment.
Leading Performance of Gas-Powered Tractors in the First Half of the Year
According to terminal registration data, gas-powered tractors led the market in the first half of 2024, accounting for 66% of total sales (totaling 107,000 units). This segment saw a significant 106% year-on-year increase, driven by lower operating costs compared to diesel models, which garnered favor among end-users.
Top Three Manufacturers in June: Jiefang, SINOTRUK, Dongfeng; TOP10 Trends: 6 Up, 4 Down, Yutong Leads the growth
According to terminal sales data in June 2024:
FAW Jiefang sold 6,590 units, a 16% year-on-year decrease but retained the top position with a market share of 25.9%.
SINOTRUK sold 5,743 units, a 31% year-on-year increase, securing second place with a market share of 22.57%.
Dongfeng Motor sold 3,334 units, an 8% year-on-year decrease, securing third place with a market share of 13.1%.
Top Manufacturers in Cumulative January-June 2024 Sales: Jiefang Leads, SINOTRUK Second, Dongfeng Third; TOP10 Trends: 4 Up, 6 Down, Beiqi Foton Leads; TOP10 Market Share Trends: 4 Up, 6 Down, SINOTRUK Gains the Most
According to terminal registration information, cumulative sales rankings for the top 10 tractor manufacturers from January to June 2024:
FAW Jiefang led with cumulative sales exceeding 47,200 units, a 3% year-on-year decrease but maintained a market share of 29.14%.
SINOTRUK sold 36,800 units, a 42% year-on-year increase, gaining the most market share among the top manufacturers with 22.7%.
Dongfeng Motor sold 20,900 units, a 13% year-on-year decrease, securing a market share of 12.88%.
In summary, the tractor market in the first half of 2024 exhibited fluctuations in sales, with gas-powered tractors notably driving growth amid varying market conditions.
Source : www.chinatrucks.com
Editor : Alison
Views : 6433
