In January 2022, the heavy-duty truck market sold nearly 80,000 vehicles of various types, up 36% month-on-month, but down 57% year-on-year. Among them, what is the sales volume of mainstream heavy-duty truck companies? How is the "cake" of market share divided?
Take a look at the analytical reports brought by the first commercial vehicle network.
Market share of heavy-duty truck companies in January 2022
Heavy-duty trucks fell 57% year-on-year in January, up 36% month-on-month
Just this past January, the heavy truck handed over a report card that was barely a "good start".
According to the latest data from the First Commercial Vehicle Network, in January 2022, the mainland heavy-duty truck market sold about 78,000 units, up 36% from December 2021, but down 57% from 183,400 units in the same period last year. The 78,000 units were the lowest level of January sales in the last six years from 2017 to 2022, and the sales volume was not as large as in January 2017 (83,000 units).
According to the author's previous analysis, the reasons for the month-on-month growth and year-on-year decline in the heavy-duty truck market in January are mainly in three aspects. First, terminal demand remains sluggish. This also means that the month-on-month increase in sales in January is actually largely due to the fact that heavy truck companies are preparing for the arrival of the traditional peak season after the Spring Festival, so they prepare goods in the distribution channels in advance. At the beginning of 2022, a series of unfavorable factors such as insufficient supply of goods in the logistics industry, limited production in the manufacturing industry, less goods in the vehicles, sluggish start of infrastructure projects, and higher inventory in the heavy-duty truck industry, which have become increasingly prominent since May 2021, have not been eliminated in January this year, but have continued. Moreover, in January, there are still factors such as epidemic prevention and control in various places, poor transportation of materials, coupled with the impact of the Spring Festival approaching and the return of logistics practitioners to their hometowns for the New Year, the demand for car purchases in January is still sluggish, and manufacturers and dealers do not have much hope for the Market in January, but mainly in the traditional peak season of the year to make product reserves.
Monthly trend chart of heavy-duty truck sales in the mainland heavy-duty truck market from 2015 to 2022 (unit: units)
Secondly, the base of the same period last year was too large, and it was inevitable that sales in January this year would drop sharply year-on-year. In January 2021, the sales volume of the mainland heavy-duty truck market was 183,400 units, which is the highest sales record in January of the heavy-duty truck market, nearly 70,000 more than the previous record of 116,600 units in January 2020. Such a high base for the same period has made it a foregone conclusion that sales in January this year will decline sharply year-on-year.
Third, sales in December 2021 are relatively sluggish, and month-on-month growth is inevitable. In December 2021, the mainland heavy-duty truck market sold 57,500 units, which was only slightly higher than that in August, October and November of that year, and less than the monthly average of 58,200 units in the second half of 2021. Such a low sales level has laid the foundation for the month-on-month growth in January this year; on the other hand, although the demand for the terminal market is still very low, the major enterprises still have to strive to ensure the "opening red" (at least the "opening red" with a large increase in the month-
Liberation wins the championship Dongfeng/Heavy Duty Truck Insurance Top Three Foton/Shaanxi Automobile Compete for top four
In January, is there any new change in the competitive landscape of the heavy truck industry?
According to the data of the First Commercial Vehicle Network, in January 2022, in the fierce "qualifying competition", FAW Jiefang continued to maintain its lead, achieving sales of 23,000 vehicles, with a share of nearly 30%; the sales gap between Dongfeng and Heavy Duty Truck, foton and Shaanxi Automobile were very small, and the real "decisive battle" had to wait until the traditional peak season in March. In addition, in January 2022, the top nine companies that achieved market share growth mainly included Sinotruk, Dongfeng, Dayun and XCMG.
January 2022 heavy-duty truck market sales ranking (unit: unit)
Specifically, the first camp of heavy-duty trucks is still composed of Jiefang, Dongfeng and Heavy Duty Truck, faw Jiefang won the championship again in January this year after regaining the monthly sales championship in December 2021, with about 23,000 heavy-duty trucks sold in that month, an increase of 68% month-on-month, and the market share reached 29.5%.
In January, the sales gap between Dongfeng Company (including Dongfeng Commercial Vehicles, Dongfeng Liuqi Chenglong, Dongfeng Huashen, etc.) and Sinotruk was very small, with sales of 17,500 heavy-duty trucks and 17,000 units respectively, up 61% and 30% month-on-month, and market share of 22.4% and 21.8%, respectively, up 5.5 percentage points and 7.7 percentage points year-on-year.
The sales gap between Foton Motor and Shaanxi Automobile Group in January was also small, with heavy trucks of 0.5 million units and 0.45 million units respectively (Shaanxi Automobile's production and sales in January were greatly affected by the epidemic in Xi'an), with a market share of 6.4% and 5.8%.
SAIC Hongyan sold about 0.25 million heavy-duty trucks in January, up 43% month-on-month and with a market share of 3.2%, maintaining the top six in the industry. In January, The Company sold about 0.25 million units, which was basically flat month-on-month, with a market share of 3.2%. In January 2022, Jianghuai Automobile sold about 0.18 million heavy-duty trucks, a significant increase of 188% month-on-month, and its market share was 2.3%. In January 2022, XCMG sold 1,568 heavy trucks, with a market share of 2.0%, up 0.7 percentage points year-on-year.
In January, due to the beginning of the year, in addition to the liberation of the heavy-duty truck market to continue to ride the dust, the ranking of the rest of the enterprises is not stable, and the sales gap is relatively small; it is expected that after the end of the first quarter, the new and relatively stable competitive pattern of the domestic heavy-duty truck industry will gradually "surface".