November’s Heavy Truck Sales Data Released
In China market, heavy trucks are the most concerned area. The reason is that the heavy truck market is large, about 900,000 trucks annually. And the sales of heavy trucks can also reflect the prosperity of the transportation market, playing a certain role as an economic barometer.
In Nov 2024, the sales volume of China heavy truck market was about 69,000 truck units, a year-on-year decline of about 3%. However, it has basically maintained a stable trend. So in November, how was the performance of Chinese major truck brands? Let's take a closer look at the sales of some domestic heavy truck brands.
Sinotruk (About 18,500 Truck Units Sold)
In recent years, Sinotruk Group is the absolute king in China heavy duty truck market. In November 2024, Sinotruk's monthly sales were about 18,500 Truck Units, ranking No.1 in the industry, leading the second place by more than 5,000 truck units.
It’s worth to mention that in the case of a slight decline in the overall heavy-duty truck market, Sinotruk's sales in November increased by nearly 30% year-on-year, which presented a strong performance by the end of 2024.
FAW (About 13,000 Truck Units Sold)
In November 2024, FAW heavy-duty trucks completed sales is about 13,000 truck units, ranking the 2nd among all Chinese heavy-duty truck manufacturers. FAW is a company in the commercial vehicle sector of China FAW Group, headquartered in Changchun. Its production bases are mainly distributed in Changchun and Qingdao, and it has the reputation of being the cradle of China automobile industry.
Shacman (About 12,000 Truck Units Sold)
Shacman was once one of the three major heavy-duty truck manufacturers in China, the other two being Chongqing Heavy Duty Truck and Jinan Heavy Duty Truck, which are now Hongyan and Sinotruk. In November 2024, Shacman achieved heavy-duty truck sales of about 12,000 units, ranking third in the industry, not far behind FAW.
Dongfeng Heavy Truck (About 10,000 Truck Units Sold)
Dongfeng Heavy Truck was the Second Automobile Manufacturing Plant, which originated in Shiyan, Hubei during the Third Line Construction period and is now headquartered in Wuhan. Dongfeng Heavy Truck is now one of the four major heavy truck giants in China. In November 2024, it achieved sales of about 10,000 heavy trucks, with a market share of about 15%.
Foton Heavy Truck (About 6,300 units)
In November 2024, Foton Heavy Truck completed sales of about 6,300 units, ranking 5th in the industry. Foton's Auman heavy truck is a commercial vehicle brand under BAIC Group. The Foton brand also has a variety of commercial vehicle models such as buses, pickups, and light trucks. It is one of the core subsidiaries of BAIC Group.
XCMG Heavy Truck (1,800 units)
XCMG Group is a leading enterprise in the field of engineering machinery. After acquiring Nanjing Chunlan Heavy Truck, it began to get involved in the field of automobile manufacturing. In terms of new energy heavy trucks, XCMG Heavy Truck is the industry's No. 1 brand. In November 2024, XCMG's heavy-duty truck sales reached 1,800 units, a year-on-year increase of 50%, and has become one of the mainstream heavy-duty truck brands.
In addition, the combined sales of other brands in November also exceeded 5,000 units. It can be seen that the advantages of the four giants, Sinotruck, FAW, Shacman, and Dongfeng Heavy Truck, are still very obvious, with a market share of more than 15% and a combined market share of nearly 80%. They are no doubt the four pillars in China heavy-duty truck manufacturing.
Summary:
However, China heavy-duty truck market is large enough, with an annual production and sales volume of about 900,000 truck units. In addition to the four major heavy-duty truck brands, it also provides a broad living space for many heavy-duty truck manufacturers.
However, judging from the growth trend of major manufacturers, most of the sales are basically stable with a slight decline. Among them, China National Heavy Duty Truck is basically the same as last year, while Shacman, FAW, and Dongfeng have all declined slightly. The cumulative production of Foton Heavy Duty Truck and JAC Heavy Duty Truck from January to November has declined by more than 20%.
XCMG Heavy Duty Truck, the leading manufacturer in the field of new energy heavy-duty trucks, achieved a 17% growth from January to November. It can be seen that the development of new energy heavy-duty trucks has become an important direction for traditional heavy-duty truck manufacturers to maintain and improve performance growth.
