Heavy-duty truck sales in June hit 95,000 units, surging 60 percent from the same month last year and reaching an all-time monthly high for the month, according to the latest data from manufacturers provided to cvworld.cn.
The previous record for June was 93,800 units in 2010.
The heavy-duty truck market has been on a roll so far this year, as seen from monthly sales curve showing 83,000 units in January (up 125 percent), 86,000 in February (up 147 percent), 114,600 in March (up 53 percent), 104,400 units in April (up 52 percent) and 97,700 units in May (up 51 percent). From 2011 to 2016, June sale averaged merely 60,000 units, in sharp contrast with the 95,000 units sold this year, indicating a surprising market boom during a usually weak season.
The six consecutive months of rapid growth is mainly due to three drivers, according to analysis of cvworld.cn. First, the continuity of policy to control oversize and overloading in Q1 led to a surge in demand of trucks. Second, the impact of control policy is diminishing but the rise of fixed assets investment, particularly infrastructure investment, has promoted truck sales especially that of engineering vehicles and related logistics vehicles. Third, the rapid rise of heavy-duty truck export.
All mainstream truck makers maintained high growth in June. FAW Jiefang sold 20,000 units while Dongfeng sold 19,400 units in June, up 70 and 67 percent, respectively. CNHTC maintained its third place ranking by selling 17,000 units with a 62 percent jump. Shaanxi Auto and Foton remained in fourth and fifth spots by selling 14,700 and 9,400 units, up 60 and 40 percent each. JAC posted a slight sales increase of 3 percent to 3,000 units. SAIC-IVECO-Hongyan had the fastest growth among the top 10 with a 154 percent surge to 3,877 units. Dayun, Hualing and Beiben sold 2,505, 1,215 and 1,169 units with growths of 43, 16 and 33 percent, respectively.
Net addition of 240,000 units in H1
In the first six months, a total of 581,100 heavy-duty trucks were sold in China, a sharp addition of 71 percent representing a net addition of 241,000 units.
FAW Jiefang was the runway winner for the half-way mark with sales of 131,000 units, up 84 percent with a market share of 22.5 percent. Dongfeng was second with 111,600 units, adding 71 percent for a 19.2 percent market share. CNHTC sold 98,800 heavy-duty trucks, up 74 percent and occupying 14.8 percent of the market. Shaanxi Auto sold 86,000 units, surging 77 percent with a market share of 14.8 percent. Foton rounded out the top five with 55,600 units, up 43 percent with a market share of 9.6 percent.
JAC was sixth with sales of 28,500 units, expanding 54 percent with a market share of 5.9 percent. SAIC-IVECO-Hongyan sold 16,130 units, soaring 149 percent with a market share of 3.4 percent. Dayun sold 12,515 units, up 65 percent with a market share of 2.6 percent. CAMC Hualing sales rose 64 percent to 8,877 units with a market share of 1.8 percent, and Beiben rounded out the top 10 with sales up 55 percent to 6,096 units for a market share of 1.3 percent.
Based on the analysis of cvworld.cn, the market only needs to average monthly sales of 53,200 units to achieve 319,200 units in the second half of 2017 for sales to reach 900,000 units in 2017. That volume would exceed the 880,000 units sold in 2011 and make 2017 the year with the second highest heavy-duty truck volume of all time behind the record 1 million units sold in 2010.
There is a high likelihood that it will happen.
(Rewritten by Xu Jun based on author’s article on cvworld.cn)