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November heavy-duty truck sales down 9 percent, but YTD sales top one million units

After a year of explosive growth, the heavy-duty truck market had its first year-on-year sales drop in November but sales through to November nevertheless topped one million units as expected, according to the latest data reported by truck manufacturers.

Sales of heavy-duty trucks shrank 9 percent in the month from the previous year to 83,500 units. This meant two things. First, it was the first yearly sales drop of heavy-duty trucks after 13 consecutive months of explosive growth. Yearly growth rate of each month from last October to this October had never been lower than 50 percent. Second, the 9 percent decline to 83,500 units also indicated a relatively stable return to normal development trend instead of a plunge.

Based on analysis of cvworld.cn, actual market orders have already dropped 20 percent on a monthly basis in spite of a yearly increase of heavy-duty truck sales in October. Therefore, it was expected by many that the November sales would drop. Two reasons can mainly speak for it. On one hand, the base number is relatively high driven by the sudden jump in sales buoyed by the “9.21” policy on truck sizes and weights. On the other hand, multiple unfavorable factors include limitations on highway transport of coal in ports as well as production limitation and halt for environmental protection reasons.

In terms of sales, three of the top 10 major truck makers posted increases while the other seven saw declines in sales. Dongfeng replaced FAW Jiefang as the top selling heavy-duty truck maker in November for the first time in nearly two years by selling 18,500 units, an increase of 7 percent. CNHTC and FAW Jiefang sold 14,500 and 14,000 units, falling 9 and 30 percent, respectively. Shaanxi Auto posted a sales reduction of 15 percent by selling 13,300 units. Foton reversed the general downward trend by selling 9,800 units with a jump of 37 percent. SAIC-IVECO-Hongyan posted the highest growth in November with nearly 3,700 units for a surge of 118 percent, rising to the 6th spot by replacing JAC. JAC, Dayun, Hualing and Beiben rounded out the top 10 with sales of 3,100, 2,110, 1,460 and 923 units, which were down 41, 32, 16 and 8 percent, respectively. 

 

In the first 11 months of 2017, altogether 1,046,900 heavy-duty trucks were sold, a significant rise of 59 percent from last year. But that growth was 11 percentage points off from the 70.28 percent rise for the first 10 months of the year. Net addition amounted to 389,300 units through to November.

What’s more important, sales through to November broke the all-time record high of 1,017,400 units achieved in 2010. Sales for the year are expected to reach between 1,120,000 and 1,130,000 units.

In the first 11 months, FAW Jiefang maintained its No. 1 spot by selling 233,800 units with a surge of 66 percent and a market share of 22.3 percent. Dongfeng ranked No. 2 with 199,900 units, reaping an addition of 60 percent and a market share of 19.1 percent. CNHTC took the third spot with sales of 177,500 units in the first 11 months, rising 64 percent from a year earlier with a market share of 17 percent. Shaanxi Auto ranked 4th by selling 160,900 units, an expansion of 71 percent with its market share rising to 15.4 percent. Foton took the 5th spot with sales of 106,400 units, up 53 percent with a market share of 10.2 percent. JAC posted sales of 48,200 units with an increase of 20 percent and a market share of 4.6 percent.

SAIC-IVECO-Hongyan maintained its No. 7 spot by selling 37,960 units, surging 172 percent on a yearly basis with market share rising to 3.6 percent. It further narrowed its gap with JAC in spite of its same ranking. Dayun posted sales of 27,065 units, adding 35 percent with a market share of 2.6 percent. CAMC Hualing and Beiben posted sales of 16,648 and 12,948 units, up 27 and 48 percent, respectively, with market shares of 1.6 and 1.2 percent.

(Rewritten by Xu Jun based on author’s article on cvworld.cn

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