In February, the heavy-duty truck market and the tractor market both suffered month-on-month and year-on-year declines, almost creating the worst performance in the past five years. In March, the overall sales volume of the heavy-duty truck market was less than 80,000 units, so it can be said that there is no sense of "peak season", what is the situation of the tractor market?
Take a look at the analysis report of the First Commercial Vehicle Network.
Tractor sales in March were only 32,500 units, down 73% year-on-year
The first commercial vehicle network has recently learned that according to the data of the China Automobile Association (the caliber of the number of invoices issued by enterprises, the caliber of non-terminal sales, the same below), in March 2022, the mainland heavy-duty truck market sold a total of 76,800 vehicles, down 67% year-on-year. Among them, as the most concerned segment of the heavy-duty truck market, the tractor market also fell sharply in March, with the results handed over: sales of 32,500 units, an increase of 29% month-on-month, a year-on-year decrease of 73%, a decline of 12 percentage points from the previous month (-61%), creating the largest decline in the tractor market this year. As of March 2022, the tractor market has been declining for 12 consecutive months.
Looking at the sales volume and growth trend of the tractor market in March in the past five years, in March of the past five years, the tractor market only achieved growth in 2019 and 2021, and the tractor market sales in March 2021 reached 120,500 units, with such a high "same period sales", and the decline in the tractor market in March this year can be said to be no suspense. The sales volume of 32,500 tractors in march this year has been at the lowest level in the past five years, which is only half of the normal level of about 60,000 units in March in previous years.
After March, the cumulative sales of tractors in the tractor market this year have just over 100,000 units, down 63% from 270,900 units in the same period last year, a decrease of about 170,000 units, and less than a month's sales in March last year. The first commercial vehicle network analysis believes that because the heavy truck market by the low road freight rates (the impact on the tractor market is particularly significant) and the national six switch and other effects have been sustained for a long time, and the market demand has not changed much in the near future, coupled with the epidemic, oil prices and other impacts, although March compared with February sales have increased month-on-month, but the market is far from the time to say pick up.
No company sold more than 10,000 yuan, and Futian jumped to the top two
Tractor Market Sales Table for March 2022 (Unit: Unit)
As can be seen in the table above, the tractor market in March fell by 73% year-on-year, a decline of 12 percentage points from the previous month (61% year-on-year decline in the tractor market in February), and about 88,000 units were sold less than the same period last year, less than 30% of the sales volume in the same period last year. Specific to the top ten sales companies in March, all ten companies have declined, and the decline has reached double digits, 5 companies have fallen by more than 70%, and the sales volume of the most serious decline enterprises in March has dropped by 82% year-on-year, but there are also enterprises including Futian, Dayun, Hanma Technology, Beiben and other enterprises that have fallen lower than the overall decline in the tractor market, outperforming the market "market".
In March, no company in the tractor market sold more than 10,000 vehicles, and the tractor market has not sold more than 10,000 vehicles for two consecutive months. In March, the total share of the top ten tractor sales companies reached 98.9%, and the ten companies outside the company only received a 1.1% share, and the total sales volume was less than 400 units. In March, the total share of the top five tractor market sales reached 85.57%, and the total share of the top five in the industry still exceeded 85%, but the total share of the top five companies in the industry was close to 90% compared with the first two months of this year (the total share of the top five companies in January and February was 89.55% and 89.65%, respectively).
From the perspective of cumulative sales, the cumulative sales of tractors in the tractor market from January to March this year were 100,900 units, down 63% year-on-year, and about 170,000 units less than the same period last year, only about 37% of the cumulative sales in the same period last year. Specific to the top ten sales enterprises, 10 companies have all been in the decline range, and the cumulative decline has reached double digits, but the decline in heavy trucks, Dayun, Dongfeng, Foton, Beiben and other enterprises fell lower than 63% of the industry as a whole, outperforming the market "market", of which the cumulative sales volume of Dayun Heavy Truck in the first three months of this year fell by 19%, which is the lowest decline in the top ten sales enterprises.
From the cumulative share, the total share of the top ten sales companies reached 98.97%, the total share of the top five sales companies reached 88.24%, and the 5 companies almost shared 90% of the market share of the tractor market from January to March this year, of which the share of Jiefang and Heavy Duty Truck both exceeded 20%, reaching 25.92% and 23.34% respectively, and Dongfeng, Foton and Shaanxi Automobile shared the 14.87%, 12.24% and 11.87% share of the tractor market in the first three months of this year. The gap between neighboring enterprises has not been widened, among which the sales gap between Foton and Shaanxi Automobile, which ranks 4th and 5th in cumulative sales, is only more than 300 vehicles, and the cumulative share difference is only 0.37%, the gap is very small, and the fourth dispute in the industry is full of suspense.
From January to March this year, the cumulative share of heavy trucks, Dayun, Foton, Hanma Technology, Dongfeng and other enterprises in the tractor market increased, of which the cumulative share of Sinotruk in January to March this year increased by nearly 9.32 percentage points compared with the same period last year; the share of Dayun Heavy Truck in the tractor market this year also increased by 3.13%.
From the perspective of the industry pattern, there is a slight difference between the top ten members of the tractor market in March this year and the top ten members in February: Foton jumped from the fourth place in February to the top two, Dongfeng, which ranked fifth in February, rose to the third place in the monthly list; Beiben Heavy Duty Truck, which was squeezed out of the top ten of the monthly list in February, returned to the top ten and won the 8th place in the March monthly list.
It is worth mentioning that in March, the sales gap between neighboring enterprises is very small, ranking 2-5 companies are more than 5,000 vehicles, the difference is not more than a few hundred; the sales gap between the 8th Beiben and the 9th XCMG is only 109, and the gap between XCMG and Hanma Technology is only 29, which shows how fierce the competition in the tractor market is, and in April, the industry ranking of the tractor market may be another scene.
Like the heavy-duty truck market, the tractor market failed to wait until the peak sales season in March. In the first quarter of this year, the average tractor market sales were only 33,600 units, although slightly better than the last months of 2021 (the average monthly sales of tractors in August-December 2021 were only 22,300 units), but it was still at a very low level. In April 2021, the tractor market had sales of nearly 100,000 units, which is almost impossible for the current market to achieve growth in April this year. The first growth of the tractor market this year will not be until at least May.