The sales report for internal combustion engines for the whole year of 2023 has arrived.
Recently, according to data released by the China Association of Internal Combustion Engineers, in December 2023, domestic internal combustion engine sales reached 3.9581 million units, a decrease of 3% compared to the previous month and a year-on-year increase of 13.77%; In 2023, a total of 44.7376 million units were sold, a year-on-year increase of 2.85% (an increase of 0.95 percentage points from January to November).
The sales of multi cylinder diesel engines for commercial vehicles, which are closely related to the commercial vehicle market, continue to decline month on month and continue to grow rapidly year-on-year. In December, sales of multi cylinder diesel engines for commercial vehicles reached 180800 units, a decrease of 6.02% month on month and a year-on-year increase of 40.22%; In the whole year of 2023, a total of 2.0485 million units were sold, with a total sales volume exceeding 2 million units, achieving a year-on-year growth of 22.66%, an increase of more than 1 percentage point compared to the growth rate from January to November.
In December 2023, domestic diesel engine sales reached 422500 units, a decrease of 3.78% month on month and a year-on-year increase of 22.7%; In 2023, the cumulative sales of diesel engines reached 5.1165 million units, a year-on-year increase of 10.54%, an increase of nearly 1 percentage point compared to January November.
Diesel engine: Annual sales exceeded 5.12 million units, an increase of 11% year-on-year
In December 2023, domestic diesel engine sales reached 422500 units, a decrease of 3.78% month on month and a year-on-year increase of 22.7%; In 2023, the cumulative sales of diesel engines reached 5.1165 million units, a year-on-year increase of 10.54%, an increase of nearly 1 percentage point compared to January November.
Next, let's take a look at the performance of various diesel engine manufacturers.
Multi cylinder diesel engine: Annual sales of 4.13 million units increased by 11% year-on-year
In December 2023, China's commercial vehicle production and sales completed 366000 and 364000 units respectively, a decrease of 5.7% and 0.4% month on month, and a year-on-year increase of 41.7% and 25.1%, respectively. In 2023, the cumulative production and sales of commercial vehicles in China reached 4.037 million and 4.031 million, with production and sales returning to 4 million, an increase of 26.8% and 22.1% year-on-year, respectively. The sales of multi cylinder diesel engines in December and throughout the year fluctuated synchronously with the performance of the commercial vehicle market, both decreasing month on month and increasing year on year, with cumulative growth continuing to expand.
In December 2023, a total of 340700 domestic multi cylinder diesel engines were sold, a month on month decrease of 3.97% and a year-on-year increase of 28.63%; In the whole year of 2023, the cumulative sales were 4.1339 million units, a year-on-year increase of 10.89%, and the cumulative growth rate increased by more than 1 percentage point compared to January November. Weichai, Yuchai, Quanchai, Yunnei, Jiangling, Xinchai, Jiefang Power, Foton Cummins, Dongfeng Cummins, and Shanghai New Power ranked in the top ten in terms of sales, with no changes compared to last month. The total sales of the top ten accounted for 77.74% of the total sales, with a slight increase compared to the previous month.
From a monthly perspective in December, Weichai still ranked first with a monthly sales volume of 51000 units. The second ranked Yuchai has a monthly sales volume of 38500 units, achieving a month on month growth of 39.55%, the highest among the top ten enterprises. The third place is Yunnei, with a monthly sales volume of 38300 units, achieving a month on month growth of 7.3%. In December, Yunnei Power successfully held the 2024 Partner Conference, mainly introducing the key work and achievements of Yunnei Power in 2023, and jointly planning a strategic cooperation plan to seek market opportunities and common development with various partners in 2024. Quanchai ranked fourth with a monthly sales volume of 36500 units, achieving a month on month growth of 36%. In December, Quanchai continued to promote the "Brand Journey" campaign, and the video program for this series of activities has been updated to 24 episodes, attracting a large number of viewers. The fifth place is Jiangling Motors, with a monthly sales volume of 31600 units in December, achieving a month on month growth of 13.49%. The top five are the only companies with monthly sales exceeding 30000 units.
In terms of cumulative sales, the cumulative sales data of multi cylinder diesel engines in the table above shows that Weichai sold 720500 units of multi cylinder diesel engines throughout 2023, achieving a year-on-year increase of 32.84% and holding a market share of 17.43%, an increase of 2.88% compared to the same period last year. It remains the enterprise with the most significant market share growth in the top ten; The second place is still Yuchai, with an annual sales volume of 403100 units, reaching the milestone of 400000 units and occupying a market share of 9.75%; Third place Quanchai, with a total annual sales volume of 374100 units, achieved a year-on-year growth of 5.97% and a market share of 9.05%; The cumulative sales of the fourth ranked Yunnei Power reached 373300 units, achieving a year-on-year increase of 12.76%, and its market share was 9.03%, an increase of 0.15% compared to the same period last year. Jiangling Motors, ranked fifth, achieved a year-on-year growth of 11.34% and a market share of 7.51% with a total sales volume of 310500 units in 2023.
Other companies with faster year-on-year growth rates include Jiefang Power, Foton Cummins, and Dongfeng Cummins. Jiefang Power ranks seventh, with a total annual sales of 2216000 units, a year-on-year increase of 24.35%, and a market share of 5.36%, an increase of 0.58% compared to the same period last year. Foton Cummins ranked eighth, with annual sales of 197200 units, a year-on-year increase of 22.44%, and a market share of 4.77%, an increase of 0.45% compared to the same period last year. The annual sales of Dongfeng Cummins, ranked ninth, reached 191400 units, achieving a year-on-year growth of 33.1%, with the highest growth rate among the top ten; Obtained a market share of 4.63%, an increase of 0.77% compared to the same period last year.
Multi cylinder diesel engines for commercial vehicles: Annual sales of 2.05 million units increased by 23% year-on-year
In December 2023, sales of multi cylinder diesel engines for commercial vehicles reached 180800 units, a decrease of 6.02% month on month and a year-on-year increase of 40.22%; In 2023, the cumulative sales reached 2.0485 million units, achieving a year-on-year growth of 22.66%. The top ten companies in terms of annual sales ranking are Weichai, Jiangling, Foton Cummins, Yunnei, Yuchai, Jiefang Power, Shanghai New Power, Quanchai, Dongfeng Cummins, and Jianghuai. Among them, Jianghuai Automobile has returned to the top ten on the list. The total sales of the top ten enterprises accounted for 88.76% of the total sales, almost unchanged from the previous month.
From a monthly perspective in December, Jiangling Motors won the championship with a monthly sales volume of 31900 units, achieving a month on month growth of 13.16%; The runner up is Weichai, with a monthly sales volume of 24500 units; The monthly sales of the third ranked Yunnei Power reached 20600 units, achieving a month on month growth of 14.76%; The fourth place is Foton Cummins, with monthly sales of 19700 units, achieving a month on month growth of 14.12%; Yuchai ranked fifth with sales of 16400 units, achieving a month on month growth of 65.73%, the highest among the top nine enterprises.
According to the cumulative sales data in the table above, Weichai sold 430000 multi cylinder diesel engines for commercial vehicles throughout 2023, making it the only enterprise in this segment to exceed 400000 units in sales. It achieved a year-on-year growth of 75.74%, accounting for 20.99% of the market share. Compared with the same period last year, its market share increased significantly by 6.34%, leading the way in growth; The cumulative sales of Jiangling Motors, ranked second, were 310600 units, achieving a year-on-year increase of 11.35%; The third place is still Foton Cummins, with a cumulative sales volume of 197500 units, achieving a year-on-year growth of 22.66%; The annual sales of Yunnei Power, ranked fourth, were 165700 units, achieving a year-on-year increase of 19.12%; The fifth place is Yuchai, with a cumulative sales volume of 145400 units.
In addition, Jiefang Power and Dongfeng Cummins also have faster year-on-year growth rates. Jiefang Power ranks sixth in the industry, with a cumulative sales volume of 128400 units throughout the year, achieving a year-on-year growth of 28.18% and holding a market share of 6.27%, an increase of 0.27% compared to the same period last year. Dongfeng Cummins ranks ninth in the industry, with annual sales of 107300 units, achieving a year-on-year increase of 45.74% and holding a market share of 5.24%, an increase of 0.83% compared to the same period last year.
Editor's note: 2023 officially concluded, with a total annual sales volume of 4.1339 million multi cylinder diesel engines, a year-on-year increase of 10.89%.
