Views: 0 Author: Site Editor Publish Time: 2024-07-08 Origin: Site
In the last month of the second quarter, the heavy-duty truck market delivered a "answer sheet" with sales of 74000 vehicles and a year-on-year and month on month decline, putting great pressure on the market in the second half of the year. How are the specific performances of various mainstream heavy-duty truck companies in this month of "connecting the past and the future"?
Market share chart of heavy-duty truck enterprises from January to June 2024
In June, the market sold 74000 vehicles, with gas vehicles increasing by 30% and new energy doubling
If May is considered as the transitional month from peak season to off-season, then June is the true off-season for the heavy-duty truck market. According to the latest data obtained by the First Commercial Vehicle Network, in June 2024, China's heavy-duty truck market sold approximately 74000 vehicles (invoicing standards, including exports and new energy), a decrease of 5% month on month and a 14% decrease from 86500 vehicles in the same period last year. Overall, from January to June 2024, China's heavy-duty truck market sold approximately 507000 vehicles of various types, an increase of 4% compared to the same period last year, with a net increase of nearly 20000 vehicles. The cumulative growth rate further narrowed compared to January May.
Looking at 74000 vehicles in the past eight years, it is only higher than June 2022 (55100 vehicles) and lower than June sales in other years, indicating a low prosperity of the freight market. Overall terminal demand is weak, and although some heavy-duty truck companies have made momentum at the end of the quarter, they have not yet achieved year-on-year balance.
There are several characteristics worth paying attention to in the heavy-duty truck industry in June. Firstly, June is the month of "adding inventory" (referring to an increase in channel inventory), and some heavy-duty truck companies achieved their sales targets in the last month of the first half of the year, resulting in wholesale sales exceeding terminal retail sales. According to the prediction of First Commercial Vehicle Network, the sales of domestic heavy-duty truck terminals are expected to decline by more than 12% year-on-year in June. In the market environment of low freight rates, low demand, and high inventory, the demand for purchasing vehicles in the highway freight industry is not optimistic
Monthly sales trend chart of China's heavy-duty truck market from 2018 to 2024 (unit: vehicle)
Secondly, in the heavy truck terminal market in June 2024, although gas vehicles, exports, and new energy are still on the rise year-on-year, the growth rate has narrowed. Let's take a look at the exit first. In June of this year, heavy truck exports continued to grow, expected to increase by about 2% year-on-year. The reason for the growth is still due to the "early purchase" brought about by the implementation of Russia's policy of increasing import car scrapping fees in the second half of the year, as well as the sustained rapid growth of export sales in non Russian regions
Looking at the gas heavy-duty truck market again. In June, First Commercial Vehicle Network predicted that the domestic natural gas heavy-duty truck terminal sales would decrease by more than 20% month on month, with a year-on-year growth rate of 25-30%, and a penetration rate of 36-38% in the domestic terminal market. Although the natural gas heavy-duty truck market can still be considered as "not weak in the off-season", with the arrival of the overall market demand off-season, even the willingness to purchase gas heavy-duty trucks is clearly not as good as March May. In addition, since 2024, the monthly sales of new energy heavy-duty trucks have continuously exceeded expectations. It is expected that the terminal sales of new energy heavy-duty trucks will reach over 6500 units in June this year, with a year-on-year increase of about 133% and a month on month increase of over 20%.
Heavy Duty Truck sold 18000 yuan, liberated 14000 yuan, and Dongfeng/Futian/Jianghuai/Hongyan rose against the trend
In the last month of the first half of this year, what "transcripts" did the top ten heavy-duty truck companies submit?
According to data from the First Commercial Vehicle Network, in the market ranking competition in June, four companies sold over 10000 units, with China National Heavy Duty Truck Group winning the championship with 18000 units. The other three companies that sold over 10000 units were Jiefang (14000 units), Dongfeng (13000 units), and Shaanxi Automobile Group (12500 units); Enterprises with year-on-year growth against the trend include Dongfeng (12%), Futian (12%), Jianghuai (6%), and SAIC Hongyan (57%). From a cumulative perspective, the five companies that achieved year-on-year growth in market share from January to June include China National Heavy Duty Truck, Jiefang, Dongfeng, XCMG, and Beiben.
June 2024 Sales Ranking of Heavy Truck Enterprises (Unit: Vehicles)
Specifically, Sinotruk Truck Group sold approximately 18000 heavy-duty trucks in June, maintaining the top position in the industry; Its cumulative sales from January to June were about 138400 vehicles, a year-on-year increase of 7%, and its market share increased to 27.3%, an increase of 0.7 percentage points
FAW Jiefang sold approximately 14000 heavy-duty trucks in June this year, with a cumulative sales volume of nearly 110000 trucks from January to June, a year-on-year increase of 7%, and a market share of approximately 21.5%, an increase of 0.7 percentage points year-on-year.
Dongfeng Company (including Dongfeng Commercial Vehicle, Dongfeng Liuqi Chenglong Automobile, Dongfeng Huashen, etc.) sold approximately 13000 heavy-duty trucks in June, a year-on-year increase of 12% against the trend; From January to June this year, Dongfeng Company sold approximately 85000 heavy-duty trucks, a year-on-year increase of 7%, with a market share of approximately 16.7%, maintaining the top three in the industry, and a market share increase of 0.5 percentage points.
Shaanxi Automobile Group (including Shaanxi Automobile Heavy Truck, Shaanxi Automobile Commercial Vehicle, etc.) sold about 12500 heavy-duty trucks in June, and sold about 79500 heavy-duty trucks of various types from January to June this year, a year-on-year increase of 1%, with a market share of 15.7%. Foton Motors (including Foton Daimler) sold approximately 7000 heavy-duty trucks in June, an increase of 12% year-on-year against the trend; From January to June this year, Foton Motors sold approximately 40000 heavy-duty trucks of various types, with a market share of approximately 7.9%.
In the third tier of the heavy-duty truck industry, Dayun Heavy Truck sold 2477 vehicles in June, ranking sixth in the industry; From January to June this year, Dayun Heavy Truck sold a total of 13500 vehicles, a year-on-year increase of 5%, ranking sixth in the industry with a market share of 2.7%. XCMG Heavy Truck sold approximately 1800 vehicles in June, which was basically the same as the same period last year; Its cumulative sales from January to June were 9700 units, a year-on-year increase of 7%, ranking seventh in the industry with a market share of 1.9%, an increase of 0.1 percentage points.
Jianghuai Automobile sold about 1000 heavy-duty trucks in June this year, a year-on-year increase of 6%. Its cumulative sales from January to June were 7600 vehicles, ranking eighth in the industry with a market share of about 1.5%. Beiben Heavy Truck sold 1257 heavy-duty trucks in June, with a cumulative sales of 6000 vehicles from January to June, ranking ninth in the industry with a market share of about 1.2%, an increase of 0.1 percentage points. SAIC Hongyan sold about 900 heavy-duty trucks in June, a significant increase of 57% year-on-year against the trend; Its cumulative sales of heavy-duty trucks from January to June this year were about 4600 units, a year-on-year increase of 10%, and its market share was about 0.9%.
June has come to an end, and the second half of the year has just arrived, touching the hearts of thousands of people. What is the market trend in the second half of the year? Will it continue to plummet? Is it still possible to "turn the tide"?
The winner still depends on policies and exports.
