Foton leads heavy truck growth by 112%, Dayun medium trucks increase by 58%, August heavy and medium truck market analysis
Release time:
2020-09-12
Starting from April 2020, the automotive industry gradually recovered. Among these, the commercial vehicle market performed significantly better than the passenger car market, and various sub-segments of the truck market entered a continuous growth mode. Under continuous growth, the impact of the pandemic was gradually absorbed.
Starting in April 2020, the automotive industry gradually recovered. The commercial vehicle market significantly outperformed the passenger vehicle market, with various segments of the truck market experiencing continuous growth. This continuous growth gradually offset the impact of the epidemic.
According to the latest information from the First Commercial Vehicle Network, in August 2020, the domestic truck market produced and sold 389,900 and 396,200 vehicles respectively. Production decreased by 11% month-on-month and increased by 49% year-on-year, while sales decreased by 4% month-on-month and increased by 49% year-on-year. The growth rate of production and sales narrowed compared to July. By vehicle type, in August, heavy, medium, light, and micro trucks sold 130,000, 13,100, 190,100, and 62,900 units respectively, accounting for 32.82%, 3.32%, 47.97%, and 15.89% of the August truck market share.
Heavy Truck Sales Performance:
In August 2020, 130,000 heavy trucks (including chassis and tractors) were sold, a 7% decrease month-on-month and a significant 78% increase year-on-year. The growth rate slightly narrowed compared to the previous month, but it marked the fifth consecutive month with growth exceeding 60% (year-on-year growth of 61%, 66%, 63%, and 84% in April-July respectively). This represents 56,700 more vehicles sold compared to the same period last year. In August, the top five heavy truck sales companies were Jiefang, Dongfeng, Sinotruk, Shaanxi Automobile, and Futian, with a combined sales volume of 108,500 units, accounting for 83.42% of the total heavy truck market sales in August.
August 2020 Heavy Truck (Including Chassis and Tractors) Sales Table (Unit: Vehicles)
The table shows that compared to the previous month, the top five heavy truck companies in August saw 2 increases and 3 decreases. Compared to the same period in 2019, all five companies experienced growth, with significant increases across the board. Futian Automobile's sales increased by a significant 112% year-on-year in August, the largest increase among the top five companies. This marks the fifth consecutive month of over 100% growth for Futian heavy trucks, continuing to lead the heavy truck market. In August, the top five heavy truck companies all exceeded 10,000 units in sales. The top four companies, Jiefang, Dongfeng, Sinotruk, and Shaanxi Automobile, all exceeded 20,000 units. Sinotruk and Shaanxi Automobile's year-on-year growth rates in August outperformed the overall heavy truck market, reaching 91% and 97% respectively.
From January to August 2020, the cumulative sales of heavy trucks reached 1,085,600 units, a 35% year-on-year increase. The cumulative growth rate further expanded compared to the first seven months (31% cumulative growth from January to July). Looking at the top five companies, all five saw growth, with double-digit cumulative growth rates. Futian Automobile had the highest cumulative growth rate at 84%.
The chart shows that in August, the heavy truck market increased by 78%. After five consecutive months of significant growth, the cumulative sales growth of the heavy truck market this year has also expanded to 35%. The August growth rate of the heavy truck market outperformed the overall truck market's 49%, and the cumulative growth rate from January to August also significantly outperformed the overall truck market.
Medium Truck Sales Analysis:
In August 2020, 13,100 medium trucks (including chassis) were sold, a 2% increase month-on-month and a 10% increase year-on-year. The growth rate significantly narrowed compared to the previous month (34% year-on-year growth in July). In August, the top five medium truck companies were Futian, Dayun, Dongfeng, Jiefang, and JAC, with a combined sales volume of 10,400 units, accounting for 78.73% of the total medium truck market sales in August.
August 2020 Medium Truck (Including Chassis) Sales Table (Unit: Vehicles)
The table shows that compared to the previous month, the top five medium truck companies in August saw 3 increases and 2 decreases. Compared to the same period in 2019, four companies saw increases and one saw a decrease. Dayun, ranked second, had the highest growth rate at 58%, and the other companies that experienced growth also exceeded the overall growth rate of the medium truck market. In August 2020, among the top five companies in the medium truck market, Futian, Dayun, and Dongfeng achieved positive growth both month-on-month and year-on-year, while Jiefang experienced declines in both.
From January to August 2020, the cumulative sales of medium trucks reached 97,800 units, a 4.5% year-on-year increase. Following continuous growth since April, the cumulative decline in the medium truck market narrowed month by month (a cumulative decline of 30% in the first three months, 16% in the first four months, 2% in the first five months, and 0.3% in the first six months). After July, it finally turned positive, and after August, the cumulative growth rate further expanded. Futian, Jiefang, and JAC are all in the growth range, with Jiefang's cumulative growth rate from January to August reaching a remarkable 115%.
The chart shows that medium trucks have a very small market share. In August 2020, the 10% year-on-year growth rate of the medium truck market lagged behind the overall truck market's 49% growth rate. The 4.5% cumulative growth rate from January to August was also significantly lower than the overall performance of the truck market.
In April, the 22-month decline in the medium truck market finally ended. In May, the 70% growth rate was the highest among all truck market segments. Although the growth rate in June, July, and August lagged behind the overall market, it still achieved a rare "five consecutive months of growth." Mainstream companies such as Futian, Jiefang, and JAC have shown good growth in the first eight months of 2020 and are paying increasing attention to the medium truck market. The cumulative sales in the first eight months have already achieved 4.5% growth, which is encouraging. Despite its small market share, the future performance of the medium truck market is worth looking forward to.
Jiefang J6L Elite Edition Medium Truck
Related Downloads
Next page
Related Content
