In December 2023, the heavy-duty truck market experienced a chill and turned down year-on-month; the annual report card was delivered with 910,000 units, an increase of 36%.
According to data from the China Association of Automobile Manufacturers (enterprise invoicing standards, non-terminal sales), in December 2023, the domestic truck market sold 309,000 units, a year-on-year increase of 29.5%; the cumulative sales throughout the year were 3.54 million units, a cumulative increase of 22.4%.
Among them, heavy-duty truck sales in December fell to 52,000 units, falling again year-on-year (the first time was in January), down 3.5%; month-on-month sales ended with "three consecutive declines", down 26.7%. In the first 12 months of 2023, the annual sales volume of the heavy truck market is set to be 911,000 units, a year-on-year increase of 36%.
Sales in December reached 50,000 units, down 3.5% year-on-year
According to data from the National Bureau of Statistics, in December 2023, my country's manufacturing PMI (Manufacturing Purchasing Managers Index) was 49.0, and the PMI index has been below the critical point for three consecutive months; the PMI index in December fell to the bottom in 2023, showing market demand Weakness. Since the second half of the year, only September's PMI index prosperity has been higher than the critical point, which shows that the current manufacturing industry is still in a contraction range; especially in December, the supply of goods decreased, and the logistics and transportation industry was under tremendous pressure.
Some dealers believe that the decline in heavy truck sales in December 2023 is due to the following reasons: First, the heating season is coming and natural gas prices are rising, which directly affects users' willingness to buy cars; second, the supply of goods is reduced in December and freight prices are falling, which directly drags down heavy truck transportation. In addition, factors such as dealers' reserved sales volume to prepare for a good start, colder weather, and non-stop lending during the Spring Festival also affected the market performance of heavy trucks in December.
Judging from the sales performance in recent years, the 52,000 vehicles in December 2023 is only higher than the 46,000 vehicles in January; vertically, the sales performance in December 2023 has refreshed the lowest value in December in the past five years, which is higher than the same period in 2022. 54,000 units is even lower, which shows that the heavy truck market will be bleak in December 2023.
From the perspective of annual sales, cumulative sales of heavy trucks in 2023 were 911,000 units, a cumulative year-on-year increase of 36%, far exceeding the market performance of 672,000 units in 2022.
Fangde.com believes that in 2023, as gas vehicles and exports continue to improve, the heavy truck market will show a rapid recovery trend. In 2024, supported by factors such as the arrival of the heavy-duty truck renewal and replacement cycle, the elimination of National IV, and rapid export growth, heavy-duty truck sales are expected to reach 1.15 million units, a year-on-year increase of 26%.
December: Jiefang increased by 48% and Beiben increased by 142%
In 2023, in the last month of qualifying, what kind of answers did the mainstream heavy truck companies submit?
Specifically, Jiefang sold 10,800 vehicles, a year-on-year increase of 48%, ranking first among the top five in the industry; its market share was as high as 20.8%, winning the monthly crown. Sinotruk sells 10,000 vehicles per month and has a market share of 19%. Shaanxi Automobile sold 8,352 vehicles per month, a year-on-year increase of 1.8%, and its market share was 16%. Dongfeng sells 6,533 vehicles per month, with a market share of 12.54%.
Foton's monthly sales were 4,815 vehicles, a year-on-year increase of 5.87%, and its market share was 9.24%. JAC's monthly sales volume is 2,455 vehicles. It is the only heavy-duty truck company among the top ten in the industry to achieve both year-on-year and month-on-month growth, with year-on-year growth of 62.26% and month-on-month growth of 7.86%, with a market share of 4.71%.
Beiben's monthly sales were 1,735 vehicles, a year-on-year increase of 142.32%, leading the industry in year-on-year growth; its market share was 3.33%. Monthly sales of Dayun heavy trucks were 1,392 units, a year-on-year increase of 38.23%; the market share was 2.67%. SAIC Hongyan sold 1,104 vehicles per month, with a market share of 2.12%. XCMG's monthly sales of heavy trucks were 999 units, a year-on-year increase of 17.53%, and its market share was 1.92%.
From the perspective of market concentration, the top five in the heavy truck industry have a combined market share of 77.8%; the top ten in the industry have a cumulative market share of 92.55%.
Specifically, seven companies achieved share growth compared with the same period in 2022. Jiefang's share increased by 7.22% compared with the same period last year, Shaanxi Automobile and Foton's share increased by 0.84% and 0.82% respectively, JAC's market share increased by 1.91%, Beiben increased by 2%, Dayun increased by 0.81%, and XCMG increased by 0.34%.
2023: Sinotruk sales exceed 230,000, Jiefang rises 47%
From the perspective of the heavy truck market throughout the year, most mainstream companies achieved sales breakthroughs and increased year-on-year.
Specifically, SINOTRUK delivered 234,000 vehicles, a cumulative year-on-year increase of 47.5%; its cumulative market share was as high as 25.7%, accounting for more than a quarter of the industry's overall market share. In 2023, SINOTRUK's heavy truck exports will still maintain its leading advantage, with impressive growth in overseas markets.
Jiefang delivered 184,000 vehicles, a cumulative year-on-year increase of 47%, and its market share exceeded 20%. In 2023, Jiefang Natural Gas heavy truck industry will lead the industry and seize the initiative during the window period of oil-to-gas conversion.
Shaanxi Automobile sold nearly 150,000 vehicles throughout the year, ranking among the top three in the industry. In 2023, Shaanxi Automobile will grow by 38% year-on-year, with a market share of 16.4%.
Dongfeng sold 143,000 vehicles throughout the year, a year-on-year increase of 13%, with a market share of 15.74%, ranking among the top four in the industry.
Foton sold 89,000 vehicles throughout the year, a year-on-year increase of 31%, with a market share of nearly 10%, ranking among the top five in the industry.
In the second echelon, Universiade heavy-duty trucks will sell 25,000 units in 2023, a year-on-year increase of 44%, with a market share of 2.75%.
Jianghuai Automobile sold 19,000 vehicles throughout the year, a year-on-year increase of 33.4%, with a market share of 2.1%.
XCMG's annual sales of heavy trucks were 16,000 units, a year-on-year increase of 31.4%, with a market share of 1.8%.
Beiben Heavy Duty Truck sold 12,000 vehicles throughout the year, a year-on-year increase of 55.94%, leading the industry in year-on-year growth; its market share was 1.35%.
SAIC Hongyan sold 10,000 vehicles throughout the year, down year-on-year, with a market share of 1.1%.
From the perspective of market concentration, the top five companies in the industry have a combined market share of 87.85%, and the top ten companies have a combined market share of 96.94%.
Specifically, half of the companies will achieve market share growth in 2023 compared with 2022. Sinotruk's share increased by 2.07%, and Jiefang increased by 1.55%. In addition, the market share of Shaanxi Automobile/Dayun/Beiben increased by 0.34%/0.16%/0.18% respectively.
In 2023, the heavy truck market will grow by 36% and return to 900,000 units. With the joint efforts of many parties, it may not be far away that the heavy truck market will exceed 1 million units in 2024.
