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The sales of heavy trucks have obviously decreased
Starting in March this year, the heavy truck industry experienced a significant surge, with sales exceeding 50,000 units for three consecutive months. April marked the highest single-month sales in the sector's history. However, the market saw a noticeable slowdown after the second half of the year, with July and August sales dropping below 40,000 units.
According to the latest data from the China Association of Automobile Manufacturers, production and sales in September reached 37,266 and 40,342 units respectively, showing a year-on-year increase of 32.24% and 52.23%. Compared to August, output remained stable, while sales rose by 11.24%.
From January to September, cumulative production was 378,647 units, and sales totaled 374,895 vehicles, representing a year-on-year growth of 71.41% and 68.27%, respectively. The market continued to show strong momentum.
Wang Wenyu, Deputy General Manager of China National Heavy Duty Truck, noted that the drop in August sales was a normal fluctuation, and a slight rebound in September was expected. However, he also pointed out that the overall trend for the rest of the year would likely see a gradual decline, though sales would remain at a high level.
He explained that historically, demand tends to dip in July and August, then recover in September and October. This year, however, the usual peak in those months did not materialize as strongly.
Wang attributed the strong first-half performance to rapid macroeconomic growth and the implementation of weight-based tolling in many regions. In the third quarter, while the national economy still grew at a relatively high rate, the pace slowed compared to the first half. Additionally, with over 20 provinces implementing weight-based charges, the impact of vehicle renewal on the market weakened.
Industry analysts also highlighted that tighter monetary policies and the completion of major infrastructure projects in western China and nationwide would reduce heavy truck demand. Moreover, the closure of unqualified coal mines and high-pollution projects would further dampen logistics and special vehicle demand.
Wang added that the first-half market boom was partly due to unexpected consumer spending. Although the economy maintained strong growth, infrastructure investment slowed in the second half, which led to a more balanced total demand for trucks. He predicted a continued decline in the fourth quarter and noted that year-end rebounds were unlikely, as the "end-of-year rush" seen in previous years had disappeared.
In response to the changing market, several major Chinese heavy truck manufacturers have adjusted their annual sales targets. For example, China National Heavy Duty Truck raised its target from 80,000 to 100,000 units, and as of September, it had already achieved 78.11% of its goal. Similarly, Shaanxi Automobile increased its target to 60,000 units, and Foton raised its target by 50% to 60,000 units.
Dongfeng reported strong performance, especially with its Tianlong brand, which sold nearly 3,000 units in September alone. The company expects its year-end sales to exceed 20,000 units.
Despite the market slowdown, some companies are focusing on international markets. Shaanxi Automobile, for instance, saw a sharp rise in exports, particularly to Russia, where its high-power tractors and dump trucks are popular. Its Russian exports this year have already reached 2,000 units, far exceeding last year’s 2,000 units.
The company also expanded its production capacity and is confident about meeting its annual targets. Meanwhile, other firms like Dongfeng and Futian have prepared for potential downturns and expect to meet their goals.
Finally, many companies are preparing for the upcoming national 3 emission standards by training service centers and enhancing after-sales support. This proactive approach reflects the industry’s readiness for future challenges.