In July 2024, China's sales of heavy trucks totaled around 59,000 units, including exports and new energy vehicles. This marked a 17% decrease from the previous month and a 4% drop compared to July last year, amounting to a reduction of about 2,000 units.
The sales for this month were only higher than July 2022 (45,200 units) in the past eight years, falling below levels seen in other years for the same month. As of the end of July 2024, cumulative sales in China's heavy truck market reached approximately 563,500 units, a 2% year-on-year increase of nearly 14,000 units, although growth slowed compared to the first six months of the year.

In July, three companies surpassed sales of 10,000 units each, with SINOTRUK leading at 16,000 units, followed by FAW Jiefang (12,000 units) and Shaanxi Automobile (10,000 units). Compared to the same period last year, FAW Jiefang, Dongfeng Group, and XCMG Group saw sales grow against the trend by 43%, 4%, and 25% respectively. By the end of July, SINOTRUK, FAW Jiefang, Dongfeng Group, XCMG Group, and Beiben Heavy Truck and others achieved year-on-year increases in market share.

Specifically, SINOTRUK sold approximately 16,000 heavy trucks in July, maintaining its top position in the industry. Its cumulative sales from January to July reached 155,400 units, up 4% year-on-year, increasing its market share to 27.6%, a rise of 0.3 percentage points.

FAW Jiefang sold about 12,000 heavy trucks in July 2024, a significant 43% increase year-on-year. By the end of July, FAW Jiefang's cumulative sales reached about 118,100 units, an 8% increase year-on-year, capturing a market share of 21%, up by 1 percentage point.

Dongfeng Group (including its subsidiaries) sold approximately 8,500 heavy trucks in July, defying the trend with a 4% increase year-on-year. By the end of July, Dongfeng Group's cumulative sales were about 92,500 units, a 6% increase year-on-year, maintaining its position in the top three with a market share of 16.4%, up by 0.6 percentage points.

Shaanxi Automobile Group sold about 10,000 heavy trucks in July, with cumulative sales from January to July totaling approximately 90,500 units, a 2% year-on-year increase, securing a market share of 16.1%. Foton (including Foton Daimler) sold about 5,000 heavy trucks in July, with cumulative sales by the end of July reaching 43,200 units, holding a market share of about 7.7%.

In the third tier of the industry, Dayun Heavy Truck sold 2,268 units in July and 15,800 units from January to July, up 4% year-on-year, maintaining a market share of 2.8% and ranking sixth. XCMG Heavy Truck sold about 1,500 units in July, a 25% year-on-year increase, with cumulative sales from January to July totaling 11,200 units, holding a 2% market share, up by 0.1 percentage points and ranking seventh.

JAC Motors sold about 900 heavy trucks in July 2024, with cumulative sales from January to July reaching 8,400 units, capturing a 1.5% market share and ranking eighth. Beiben Heavy Truck sold 598 units in July, with cumulative sales from January to July totaling 6,600 units, a 9% year-on-year increase, achieving a market share of 1.2%, up by 0.1 percentage points and ranking ninth. SAIC Hongyan sold about 450 heavy trucks in July, with cumulative sales from January to July totaling about 5,000 units, a 1% year-on-year increase, capturing a market share of approximately 0.9%.

Source : www.chinatrucks.com

Editor : Alison

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