Truck production and sales slow down in October
In October, the overall truck market experienced a month-on-month decline in sales volume. Among all segments, the heavy-duty truck market saw the most significant drop. However, compared to the same period last year, the heavy-duty segment still maintained strong growth, while other categories showed more stable performance. According to data from the China Association of Automobile Manufacturers, truck manufacturers produced 1,802,300 units in the first ten months of this year, marking a 26.49% year-over-year increase. Sales reached 1,720,000 units, up 26.39% compared to the previous year. In October alone, production and sales stood at 164,200 and 170,200 units respectively, rising by 13.44% and 16.86% from September. However, these figures represented a decrease of 8.85% and 5.22% compared to the previous month.
The heavy-duty truck market continued its downward trend starting from the second half of the year. After sales fell below 40,000 units in July and August, October saw another dip, with production at 35,700 and sales at 37,800 units—down 4.29% and 6.20% from September. Despite this, compared to the same period last year, the heavy-duty segment still recorded high growth, albeit slightly slower. From January to October, total production reached 416,343 units, up 68.84%, and sales totaled 412,657 units, an increase of 65.40%.
Within the heavy truck segment, trucks with a total mass exceeding 32 tons led in year-on-year growth, increasing by 265.62% with cumulative sales of 170,000 units. Trucks with a total mass of ≤26 tons remained the top-selling category, with 37,100 units sold. The 26- to 32-ton segment also saw rapid growth, selling 27,100 units, up 109.62%. Additionally, 164,400 heavy trucks were sold during the period, up 39.84%, and 150,600 semi-trailer tractors were sold, up 107.37%.
Major heavy truck manufacturers reported a decline in monthly sales but still achieved strong year-over-year growth. Among the top six companies, three saw over 70% growth, with Foton and Shaanxi Auto leading at 120.17% and 87.55% respectively. Sinotruk sold 77,600 units, up 73.34%. Other companies like FAW (83,500 units), Dongfeng (73,000 units), Futian (28,000 units), Shaanxi Auto (49,900 units), SAIC Iveco Hongyan (20,900 units), and North Benz (137,000 units) also performed well. JAC and Hualing saw massive increases of 292.42% and 117.77% respectively.
The China Card market remained relatively stable, maintaining around 11% of the overall truck market share. From January to October, 198,300 units were produced and 197,500 units were sold, up 22.47% and 22.82% year-on-year. However, October saw a sharper decline, with output falling 11.07% to 16,400 units and sales dropping 37.7% to 17,300 units, down 9.91% and 8.03% from September.
Within the China Card segment, trucks with a total mass of ≤12 tons saw a sharp decline in sales, down 45.52% to 18,600 units. In contrast, vehicles with a total mass of ≤14 tons saw the fastest growth, up 10.30% to 6,800 units. Dongfeng and FAW remained the top sellers, with 61,700 and 51,100 units sold respectively, up 26.44% and 13.51%. Chengdu Trump, Jianghuai, and Sichuan Southern County followed, with sales of 16,900, 18,800, and 10,200 units respectively, with Chengdu Trump showing a 37.65% year-on-year increase. Together, these five companies accounted for 76.73% of the China Card market.
The light and micro-card markets continued to show steady growth. From January to October, the light truck market produced and sold 930,100 and 921,800 units respectively, up 19.54% and 18.78%. Micro-cards saw 257,500 and 260,400 units produced and sold, with growth of 8.14% and 12.32%. In October, light truck production and sales reached 84,800 and 88,600 units, up 19.54% and 18.78%, while micro-card production and sales were 27,200 and 26,500 units, up 9.99% and 12.32%.
Among light-duty trucks, those with a total weight of ≤6 tons grew rapidly by 58.58%, with 108,600 units sold. Light trucks with a total mass of ≤3.5 tons had a more stable growth of 19.23%, selling 747,400 units, or 51.57% of the total light truck market. Foton led the light truck sales with 268,600 units, up 14.37% in October. Dongfeng and JAC ranked second and third with 101,100 and 91,000 units sold, up 17.95% and 17.63% respectively.
In the micro-card market, Changan, SAIC-GM-Wuling, and Hafei took the top three spots, with cumulative sales of 64,500, 46,800, and 36,400 units respectively. October sales for these brands were 64,000, 48,000, and 26,000 units.
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