Heavy-duty truck sales hit another record in August, as sales surged 84 percent to 91,000 units, the sixth consecutive month since March sales have exceeded 90,000 units, according to the latest data reported by manufacturers.
(Update: Heavy-duty truck sales grew 89.83 percent to 93,700 units in August, and 75 percent to 768,200 units in the first eight months of 2017, according to data released by China Association of Automobile Manufacturers on September 11.)
The previous August sales record happened in 2010 with 70,184 units sold.
The new sales record achieved in August, plus consecutive record highs in July and August, indicated an unprecedented booming market which traditionally is slow in these months.
In terms of monthly sales, four manufacturers – FAW Jiefang, Dongfeng, CNHTC and Shaanxi Auto – posted sales of over 10,000 units. FAW Jiefang maintained its leadership position way ahead of others by selling 21,500 units in August, an explosion of 116 percent on a yearly basis. It is also the only manufacturer to sell over 20,000 units in each of the past two months. Dongfeng was the runner-up with sales of 16,500 units, an increase of 72 percent. CNHTC and Shaanxi Auto had sales of 16,000 and 14,500 units, up 89 and 110 percent, respectively.
As for reasons behind the booming demand for heavy-duty trucks even during the slack seasons, cvworld.cn has listed six reasons in previous analysis, namely, imbalanced supply and demand in the logistics market, business expansion of logistics companies, early arrival of summer pushing up coal transport market, booming demand for thermal power due to hot summer in May and June, stable downward trend in oil prices and promising heavy-duty truck export.
With unprecedented growth since last October, it is very likely for sales to exceed 105,000 units in 2017. Altogether 764,900 heavy-duty trucks were sold in China from January to August, a sharp addition of 74 percent from last year, with a net addition of 325,500 units. FAW Jiefang maintained its No. 1 spot with 175,100 units, up 92 percent with a commanding market share of 22.9 percent. Dongfeng was No. 2 with sales of 142,700 units, up 70 percent with a market share of 18.7 percent.
CNHTC came third with sales of 131,500 units in the first eight months, rising 78 percent from a year earlier with a market share of 17.2 percent. Shaanxi Auto ranked 4th by selling 116,600 units, an expansion of 88 percent with market share rising to 15.3 percent. Foton was No. 5 with sales of 74,500 units, up 48 percent with a market share of 9.7 percent. JAC posted accumulated sales of 38,100 units with an increase of 38 percent and a market share of 5 percent.
SAIC-IVECO-Hongyan has been the fastest growing heavy-duty truck manufacturer in 2017 with January-August sales surging 166 percent to 27,000 units, as market share rose to 3.5 percent. Dayun posted 19,773 units in sales, adding 55 percent with a market share of 2.6 percent. CAMC Hualing and Beiben posted accumulated sales of 12,564 and 9,473 units, up 45 and 54 percent with market shares of 1.6 and 1.2 percent, respectively.
As the traditional “golden and silver” months of September and October arrive, the boom is expected to further strengthen.
(Rewritten by Xu Jun based on author’s article on cvworld.cn)