In November 2021, the narrow sales volume of China's pickup truck market was 31,390 units, down 12.8% from the same period last year, and the cumulative sales volume from January to November was 356071 units, an increase of 1.1% over the same period last year. Since the second half of this year, the single-month sales volume of the pickup truck market has been in a state of year-on-year decline, the most important influencing factor is the lack of production capacity caused by the shortage of chips, resulting in a shortage of high-end passenger models in the market, while the industrial and commercial just needs to use mainly economic pickup truck consumption have not been greatly affected. Therefore, at present, China's pickup truck market is still in a benign development trend, and after the production capacity problem is solved and the supply and demand relationship is restored to balance, the market will return to the previous trajectory.
Note: The narrow pickup truck data does not contain N2 types of pickup trucks, electric pickup trucks, pickup truck special vehicles, etc., which can more intuitively reflect the real needs of the pickup truck market, and the narrow data will exclude non-traditional products (load-bearing body/frameless), making the data more consistent and reference significance. (Non-traditional multi-purpose vans, which include Wuling Zhengtu and Geely Tele, sold 1,211 and 44 vehicles respectively in November.) ）
Key Highlights:
First, the supply and demand relationship of the pickup truck terminal market in November is still unbalanced, and the market is greatly affected by many aspects such as chip shortages, especially the current backlog of orders for high-end models is obvious. But what is certain is that the current market situation is still positive, up 1.1% year-on-year.
Second, the Great Wall pickup truck sold 169175 new cars in January and November, the cumulative market share is still close to 50%, and the leading edge is still very huge. The Great Wall Gun remains the number one in the model sales list, with 87,085 units sold from January to November, an increase of 10.9% year-on-year.
Third, Jiangxi Isuzu's performance in November and January-November was very outstanding, and it has firmly occupied the position of third in the industry and the first place in the joint venture. The monthly sales and cumulative sales of its three products, D-MAX, Suzuto and Ruimai, are in a year-on-year growth trend, especially the new generation of D-MAX increased by as much as 40% year-on-year in November, and has continued to maintain a high growth rate since its listing.
Fourth, the head group's production capacity is in short supply for the second group composed of Foton, SAIC Maxus and JAC to create performance space, and its sales in November have maintained growth, and the cumulative year-on-year growth rate from January to November is more than 25%.
Fifth, SAIC Maxus was the first in terms of cumulative growth rate from January to November, with a year-on-year increase of 40.4%.
Sixth, due to the continuous impact of objective factors such as chip shortage and epidemic situation, sales in most areas in November showed a year-on-year decline;
Among the cumulative sales from January to November, half of the regional sales were in a year-on-year growth trend.
Great Wall pickup trucks sold 13,147 new cars in November, and 169175 new cars were sold from January to November, and the market share in the first 11 months was still close to 50%, and sales were still far ahead in the absence of chips. The three models of the Great Wall Pickup Truck have performed well, the Great Wall Cannon has won the monthly sales championship of pickup trucks, and the cumulative sales of 87159 vehicles in the previous 11 months firmly occupy the first place in model sales, followed by 58232 sales in the first 11 months of The Wind Jun 5, the comprehensive market share of the two cars is as high as 40%, and the sales volume of the Fengjun 7 in the first 11 months is 23781.
At present, the Great Wall pickup truck is accelerating its layout in the direction of diversification. In the second half of this year, the Great Wall artillery was officially delivered, the black bullet was officially launched, leading the development of domestic pickup truck culture, and also launched a new King Kong cannon and a low-lying version, so that the Chinese people can experience a more interesting pickup truck life. The more economical Fengjun series also develops in the direction of diversification, launching a more targeted and functional seafood version, infrastructure version, dry rice version, etc., coupled with the previous flat slot version, the overall product competitiveness of Fengjun pickup truck is stronger.
Jiangling pickup truck sales in November were 4,864 units, down 12.6% year-on-year, and sales from January to November were 54,238 units, up 5.9% year-on-year. The main sales models of Jiangling pickup trucks have been dominated by baodian and yuhu 7 two low-end models, and recently launched a new 2022 yuhu 7, of which Jiangling baodian 1-11 month sales of 25004 vehicles, an increase of 107.4%, yuhu 7 sales in January-November this year was 24184 vehicles, an increase of 105.8%. The high-end passenger model Yuhu 9 has a flat response due to cost performance issues, reflecting the decline of Jiangling's high-end and passenger strategy in the past two years. However, Jiangling seems to have explored a new path in terms of passenger use this year, launching a fishing version and a parent-child version of RV products based on Yuhu 7.
As one of the few joint venture brands in China's pickup truck market, Jiangxi Isuzu has increased sales for many years with isuzu quality and endorsement, with sales of 3842 vehicles in November, an increase of 23.8% year-on-year; cumulative sales from January to November were 36633 units, an increase of 13.8% year-on-year, continuing to maintain the third in the industry and the first in the joint venture. Its three models, Ruimai, Suzuto and D-MAX, all achieved a double increase in sales and market share in a single month, with Suzuto increasing by 51.9% year-on-year and D-MAX by 40.2%.
With the strong brand endorsement and strong technical strength of Isuzu, the strong performance of the three models of Jiangxi Isuzu is not surprising. This year, Jiangxi Isuzu has brought a new generation of D-MAX to Chinese consumers, and has received a strong market response, and its sales black horse Lingtuo will officially replace the D-MAX with the same power in the future, and launch the gasoline model that consumers have been waiting for, further expanding the market coverage, ruimai this year also ushered in the upgrade and update of the overall product force is more outstanding.
Zhengzhou Nissan's november sales were 3,749 units, up 20.9% year-on-year, and its cumulative sales from January to November were 34,572 units, up 17.2% year-on-year. Its sales pillar model Ruiqi 6 sales in November this year was 2092 vehicles, January-November cumulative sales of 19431 vehicles, since the Ruiqi 6 replaced with M9T+8AT power combination, the product strength has been effectively improved, at present Zhengzhou Nissan is developing more different versions of the model based on the Ruiqi 6, trying to attract more consumer attention. Zhengzhou Nissan Ruiqi pickup truck sales in November was 860 vehicles, 8017 vehicles were sold in January-November, an increase of 64.3% year-on-year, as an upgraded and redesigned model, the product strength and cost performance have certain advantages over the same level of products, and have gained in the low-end market and industry customers.
At the product level of high-end pickup trucks, Navarre, as the only joint venture high-end gasoline pickup truck in the domestic pickup truck market, sold 7124 units from January to November, an increase of 11.1% year-on-year. As the foundation of Zhengzhou Nissan's technology platform and brand pillar, Navarre is worth investing more energy in upgrading and promoting, Zhengzhou Nissan is also ready to make some changes, and in the future, Zhengzhou Nissan plans to launch two new products of domestic Navarre Warrior Edition and Changtu Edition to meet the diversified needs of consumers.
Futian pickup trucks have maintained a good state this year, with sales of Futian pickups in November being 1291 units, an increase of 21.9% year-on-year, and cumulative sales from January to November were 13584 units, an increase of 28.7% year-on-year. With the blessing of a comprehensive product matrix composed of Xiao Cargo Lang, New Conqueror 3, Pioneer E, Yutu (which will be renamed Futian General F9 in the future), and Great General, Futian Pickup truck can maintain its ranking in the increasingly fierce market competition. At present, the main sales model of Foton pickup truck is the Yitu series, with a cumulative sales of 7660 vehicles from January to November, an increase of 84.8% year-on-year, leading the steady improvement of Foton pickup trucks, and the future Yitu series will be renamed Futian General F9 to increase brand recognition.
SAIC Maxus sold 1,345 vehicles in November this year, up 36.8% year-on-year, and the cumulative sales volume from January to November was 11,826 units, an increase of 40.4% year-on-year, making it the brand with the largest year-on-year growth in the industry. SAIC Maxus T series has always been one of the fastest growing products in the market, with a cumulative sales of 11,826 new cars from January to November this year, an increase of 40.4% year-on-year. Last year, SAIC Maxus launched the T70 commemorative version, T70 8AT, T70 Australian version, T70 pickup truck family and other blockbuster models, this year SAIC Maxus also brought SAIC Cow Pickup truck derived from the SAIC NEW concept car, and then SAIC Maxus will also launch T70 Pro, T90 gasoline version and other products, through a rich and strong product lineup to participate in market competition.
JAC pickup trucks sold 1,088 new cars in November, an increase of 7.2% year-on-year, and cumulative sales of 11,677 units from January to November, an increase of 31.1% year-on-year. In the past two years, JAC pickup trucks seem to have picked up, but if compared with the same period in 2019 before the epidemic, they still have not been able to get rid of the decline, their pickup products in the market advantage is not prominent, and the pace of product replacement is slow, and so far has not launched automatic models, resulting in JAC pickup trucks are not attractive.
Other brands such as Chang'an, Qingling, ZTE Huanghai and other brands are still in a state of declining sales, and it is urgent to launch more convincing products to gain market favor. Qingling and ZTE are still in action, ZTE launched the Weishi G7 pickup truck this year, and will also launch a full-size Pikawi 1949, Qingling is also preparing a new product with an internal code name of RG09 to try to change the existing situation.
In terms of sales volume in 31 provinces and cities, we still see the strong economic vitality of the domestic market and the strong vitality of the pickup truck market that is different from the automobile market. A separate comparison of regional sales in November can be found that 24 regions showed a year-on-year decline in sales, but after adding sales in January to January, a comprehensive comparison can be found that China's pickup truck market has not entered a downward channel, on the contrary, it still maintains a good growth potential. Hebei became the first region to sell from January to November with a performance of 23,105 vehicles, followed by traditional provinces such as Sichuan, Shandong, and Yunnan, and sales in 15 regions from January to November showed a year-on-year growth trend, with the highest being 36.7% of Xinjiang.
At present, the main problem restricting the further increase in sales in China's pickup truck market is the shortage of chips, the more popular models in the terminal market are affected, such as models such as the Great Wall Gun are the most popular models in the terminal market, so there has been a significant decline in monthly sales in the second half of the year. On the contrary, some low-end models with less application of chips, as well as models with large inventory have ushered in a wave of rise this year, the current state of the pickup truck market is that non-main brands, low-end cars have inventory, which can temporarily meet the status quo; head brands, high-end cars are out of stock, and a large number of orders are piled up, which directly leads to the continuous decline in pickup truck sales in various regions, and non-just-needed consumers choose to continue to wait and see or wait for order scheduling.
However, this situation is not the norm, as the supply of chips gradually returns to normal, and brands continue to increase efforts to improve the supplier system, the market order will eventually return to normal. Chip shortage crisis brought about a negative impact at the same time, the relevant departments also for the truck management has brought benefits, with the Ministry of Public Security to adjust the overall management measures related to truck categories, many regions are gradually following up to relax the restrictions on trucks into the city, I believe that in the future there will be more areas to lift the ban on pickup trucks, the pickup truck market is expected to further expand.