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Heavy-duty truck sales drop 17 percent in October

BEIJING – China’s heavy-duty truck sales dropped 17 percent on a yearly basis to 50,000 units in October and declined 8 percent month-on-month, according to statistics provided by truck manufacturers, reported cvworld.cn.

All of the top eight sellers witnessed sales declines in October. Dongfeng, CNHTC and FAW sold 11,000, 8,000 and 8,000 units respectively, down 12, 19 and 28 percent year-on-year. Beiqi-Foton and Shaanxi Auto sold 7,500 and 6,000 units, down 26 and 3 percent. JAC saw a decline of 27 percent to 2,400 units. SAIC-IVECO-Hongyan and CAMC Hualing sold 1,069 and 953 units, down 47 and 37 percent.

High inventory and low end-user demand weakened sales in the past few months. The PMI in September was 51.1 percent, same as that of the August, indicating weak domestic demand. The official PMI of October fell 0.3 percentage point from September to 50.8 percent, a record low in the past five months. According to economic analyses, the supply shrinkage of a traditional hot season in September and October indicates a consistently shrinking economy which may rebound by the end of the year.

The whole heavy-duty truck market saw sales of 632,300 units through October, up a slight 1 percent. Dongfeng still took the lead by selling 129,900 units, down 1 percent. Sales of CNHTC increased 2 percent to 102,300 units. FAW Group witnessed sales drop of 6 percent to 100,200 units. Beiqi-Foton and Shaanxi Auto ranked fourth and fifth on the selling list with sales decrease of 2 and 13 percent to 92,000 and 90,400 units. JAC topped the growth list by increasing 26 percent to 35,000 units. SAIC-IVECO-Hongyan and CAMC Hualing experienced sales decline of 5 and 17 percent to 20,600 and 16,300 units.

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