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Diesel engine market sees gloom in H1 2014

BEIJING – China sold 1,886,780 diesel engines in the first six months of 2014, up 1.04 percent as growth has significantly slowed, according to the latest data from China Association of Automobile Manufacturers (CAAM).

The top 10 diesel engine manufacturers were Yuchai, Weichai, FAW, Quanchai, JMC, Yunnei Power, Dongfeng, Beiqi-Foton, Huayuan Laidong and CNHTC. They sold 1,607,586 diesel engines in total, accounting for 85.20 percent of total sector sales, slightly lower than the 85.87 percent share in the same period last year. Six of the top 10 saw sales increase while the rest experienced sales decline. Beiqi-Foton, JMC and CNHTC achieved sales growth of 16.36, 15.56 and14.41 percent respectively. Sales of Quanchai dropped the most by 14.33 percent in the period. Huayuan Laidong saw sales decrease by 9.85 percent, while Weichai and Yunnei Power saw sales dip 1.59 and 1.89 percent respectively.

The gloomy diesel engine market was caused by the slowdown of the truck industry in the first half of the year. Sales of trucks (including chassis and semi-trailers) dropped 4.27 percent in the first half of 2014 to 1.77 million units.

Sales in July and August are expected to remain flat since it is the traditional slow season for the commercial vehicle market. Sales could rebound during the “Golden September and Silver October” period as truck demand rises especially in the heavy-duty sector.

Sales of top 10 diesel engine makers in H1 2014 (in units)

Make

Sales in H1 2014

Sales in H1 2013

% Change

Yuchai

305,410

298,229

2.41

Weichai

274,117

278,543

-1.59

FAW

236,805

223,058

6.16

Quanchai

217,392

253,757

-14.33

JMC

131,702

113,967

15.56

Yunnei

113,966

116,166

-1.89

Dongfeng

99,490

90,735

9.65

Beiqi-Foton

90,641

77,897

16.36

Huayuan Laidong

80,647

89,457

-9.85

CNHTC

57,416

50,184

14.41

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