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The truck market has grown steadily by over 10%
After experiencing a sharp drop in profits last year, the commercial vehicle market has begun to emerge from the cold winter this year and shows signs of recovery. According to the latest statistics from the China Association of Automobile Manufacturers, from January to November of this year, commercial vehicles produced and sold 1,857,900 units and 1,844,200 units, a year-on-year increase of 14.55% and 13.70%.
The total sales volume of trucks exceeded 1.5 million vehicles (including non-complete vehicles), an increase of 12.28% year-on-year, and showed a monthly increase.
Compared with the negative growth in 2005, this year's truck market has seen an overall recovery. In addition to the shrinking of the China Card market, all segments of the truck market have seen a surge in popularity, especially in the light-duty truck market. The growth rate is higher than the growth rate of the truck industry. From January to November this year, the cumulative sales volume of domestic light trucks exceeded 860,100, an increase of 10.93% over the same period of the previous year, and achieved an increase of more than double digits. In the first nine months of this year, sales of heavy trucks, light trucks, and micro cards increased by more than 10% year-on-year, especially for heavy trucks and micro-cards, which increased by more than 20%. However, sales of China Card from January to September totaled 6.2% less than the same period of last year.
The trend of "bipolarization" of trucks became more pronounced, and "slight truck + heavy trucks" became the main growth point driving the market. For this “polarization†trend, industry experts have stated that this is not only the development trend of the international truck market, but also an inevitable choice for the truck market after the domestic freight market has been standardized. However, in 2006, the growth rate of China's GDP and fixed asset investment did not continue to decline as expected. At this time, the structural adjustment of the development of the heavy and light poles within the truck market was already in place. Therefore, although the truck market rebounded, it did not completely outdated the adjustment period.
Judging from the market performance, in the heavy truck market, Dongfeng and FAW, which originally had a major share of the market, achieved significant declines this year. Sinotruk, Shaanxi Heavy Duty Truck and Jianghuai Gehwa achieved a greater increase in this area, including JACG. Due to its small base, Erfa has achieved an increase of more than 500%; in the light-duty truck market, Futian, Jianghuai, and Dongfeng are still three points. Compared with the same period of last year, Foton's light trucks increased 5.42% this year; JAC light trucks sold more than 100,000 units in January-November, which is the strongest momentum among the top three; Dongfeng has grown steadily this year and the overall growth is better than last year, but The light truck business still has a certain gap with JAC. In the micro-card market, JAC Xiaowei also became the main product in the field of micro-cards in 2006.