In February 2024, against the backdrop of the decline in the domestic commercial vehicle market, there was good news for the export of passenger cars.
According to relevant data, in February 2024, the total export of passenger cars reached 7,204 units, an increase of 116% year-on-year and 105.7% month-on-month, of which 4,304 were large buses, 1,218 were medium-sized buses, and 1,682 were light buses. From January to February 2024, the total number of passenger car exports was 10,706 units, a year-on-year increase of 89.7%.
In February 2024, the bus export market is obviously warm, and the trend of the market also represents the overseas business situation of various enterprises. So, how are the companies performing in overseas markets? Next, let's take a closer look.
February: Yutong / Zhongtong / Xiamen Golden Dragon ranked in the top three
From the perspective of enterprises, in February 2024, the top ten companies in passenger car export sales are: Yutong Bus, Zhongtong Bus, Xiamen Jinlong, Jiangling Jingma, Xiamen Golden Travel, Suzhou Jinlong, BYD, Yangzhou Yaxing, Foton Ouhui, and Ankai Bus. Among them, the performance of Yutong Bus and Zhongtong Bus was 1,644 and 1,189 respectively, which were in the top 10.
Xiamen Golden Dragon, Jiangling Jingma, Xiamen Golden Travel, Suzhou Golden Dragon and other four companies, sales are more than 500 vehicles, although there is a certain gap with the top two, but in the "Spring Festival month" to have such a performance, it is not easy. BYD, Yangzhou Yaxing, Foton Ouhui, Ankai Bus and other last four companies, the performance did not exceed 500 vehicles.
From the year-on-year growth point of view, in February, 6 of the top 10 companies were in a growth trend, and 2 companies fell year-on-year (two companies are missing data), among them, Ankai Bus, Jiangling Jingma, Yutong Bus, Yangzhou Yaxing, Zhongtong Bus and other five companies, the growth rate outperformed the market.
In terms of market share, the share gap between different enterprises is large, and the head enterprises have obvious advantages, and the top three Yutong, Zhongtong and Xiamen Jinlong occupy 51.83% of the market share.
The first 2 months: Yutong bus has an absolute advantage to lead
In terms of cumulative sales, in the first two months, a total of 10,706 passenger cars were exported, a year-on-year increase of 89.7%, a significant increase. The top ten companies in terms of performance are: Yutong Bus, Zhongtong Bus, Xiamen Jinlong, Jiangling Jingma, Xiamen Golden Brigade, Suzhou Jinlong, BYD, Yangzhou Yaxing, Foton Ouhui, and Ankai Bus.
Among them, Yutong Bus, Zhongtong Bus, Xiamen Jinlong is the top three, the performance is more than 1,000 vehicles, Yutong Bus is the only one with sales of more than 2,000 vehicles, which shows its leading position in the industry. Jiangling Jingma, Xiamen Golden Brigade, Suzhou Jinlong, BYD, Yangzhou Yaxing, Foton Ouhui, Ankai Bus and other 7 enterprises, in addition to the last place of Ankai Bus performance in less than 500 vehicles, the remaining 6 1-2 passenger car exports are more than 500 vehicles.
In terms of growth, 8 of the top 10 companies have increased to a certain extent. Among them, 7 companies achieved triple-digit year-on-year growth.
In terms of market share, Yutong Bus is still far ahead, accounting for 26.58% of the market share. The market share of the second and third places is also not low. Therefore, the top three are the backbone of the entire market, with a share of more than half of the country. It can be seen that the passenger car export market is currently highly concentrated.
In general, in 2024, the bus export market is a stable start, and if the follow-up can maintain a growth trend, perhaps, some enterprises in the domestic market "involution" are weak, and they can take advantage of the opportunity of overseas market demand growth to make their own performance grow. After that, we will continue to monitor in the following months to bring you the latest data.