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China’s heavy-duty truck sales drop 35 percent in April

BEIJING – Heavy-duty truck sales in April decreased 35 percent year-on-year to 57,000 units and 16 percent on a monthly basis, according to the latest report of cvworld.cn.

The industry has witnessed sales decline for nine consecutive months. April sales were also the lowest in the past eight years, according to the report.

Dongfeng kept its dominant position in April by selling 13,000 units, down 28 percent. CNHTC and FAW sold 9,500 and 9,000 units respectively, a decline of 36 and 37 percent. Shacman and Foton saw sales drop of 25 and 45 percent to 9,000 and 7,500 units. JAC ranked sixth in sales by selling 2,300 units, down 49 percent. Hualing, Beiben and SAIC-IVECO-Hongyan registered sales of 1,750, 900 and 883 units, a decrease of 25, 30 and 75 percent respectively. Dayun Auto was the only enterprise with positive growth, which posted sales of 1,404 units, up 13 percent year-on-year.

China’s heavy-duty truck market sold 191,600 units through April, down 34 percent on a yearly basis. Sales of Dongfeng decreased 24 percent to 43,400 units, slightly better than the industry average. FAW registered sales of 28,300 units, down 40 percent. Shacman and Foton sold 28,000 and 24,700 units, down 32 and 43 percent. JAC, Hualing, Beiben and SAIC-IVECO-Hongyan saw sales decline by 27, 29, 23 and 73 percent to 11,200, 5,852, 3,350 and 3,010 units respectively. Sales of Dayun Auto dropped 11 percent in the first four months to 4,656 units, according to the report.

The sluggish heavy-duty truck market can be attributed to the overall slump in the macro economy. China’s GDP growth was 7 percent in the first quarter, the record low in the past six years. Fixed assets investment growth increased 13.5 percent in the first three months of the year, down 4.1 percentage points compared with the same period of the previous year. High-inventory and reduced development by the real estate industry also hindered the development of heavy-duty truck market.

The PMI index in April was 50.1 percent, still over the 50 percent entrepreneurs confidence threshold. New Orders Index and New Export Orders Index was 50.2 and 48.1 percent in April, a new low of this year. Products Inventory Index was 48 percent, lower than the critical point.

Xie Guangyao, chief editor of cvworld.cn, predicted a further sales decline in May given the large sales of 73,921 units in May 2014.

Executives of heavy-duty truck manufacturers also predicted a double-digit decrease of the whole year sales during the just closed Auto Shanghai 2015. Since most infrastructure construction projects will not start until the third quarter, the heavy-duty truck market may not see any growth in the second half of the year, said the executives.

 

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