On behalf of the "wind vane" of the development of the bus industry, Yutong, Jinlong (including Xiamen Jinlong, Xiamen Jinlong and Suzhou Jinlong, the same below), Zhongtong, Ankai and Yaxing and other five listed bus companies, their sales results in the first quarter of 2024 have been released recently.
It is gratifying that in the first quarter of this year, the sales performance of the five listed companies are more eye-catching, and their sales have increased significantly year-on-year (see Table 1), which can be described as "red across the board", which is rare in the bus industry in recent years, and has attracted great attention in the industry.
Table 1, according to the production and sales express report recently released by five listed bus companies, the sales volume and year-on-year growth rate of five listed bus companies in the first quarter of 2024:
The above table shows that in the first quarter of 2024, among the 5 listed bus companies:
Yutong Bus sold 7,731 vehicles, up 74.16% year-on-year, King Long sold 9,789 vehicles, up 41.98% year-on-year, Zhongtong Bus sold 2,514 vehicles, up 104.39% year-on-year, Ankai Bus sold 1,440 vehicles, up 183.46% year-on-year; Yaxing Bus sold a total of 951 vehicles, a year-on-year increase of 183.88%.
It can be seen that the five bus listed companies in the first quarter of this year sales of the lowest year-on-year growth rate of King Long Automobile also exceeded 4 percent, while the year-on-year growth rate of Zhongtong, Ankai and Yaxing have doubled.
In short, in the first quarter of this year, the sales performance of five listed bus companies is very eye-catching, and it is not an exaggeration to describe it as "red across the board".
According to the observation of the bus terminal network, although the specific reasons for the substantial growth of five listed bus companies in the first quarter of this year are not the same, they all benefit from the bilateral support of domestic and overseas export markets.
The following bus terminal network will briefly analyze the specific reasons for the substantial growth of listed companies in the first quarter of this year.
1. Yutong bus
Screenshot 1, Yutong bus production and sales in March 2024 and the first quarter and year-on-year (data source: Yutong Production and Sales Express)
From the screenshot 1, it can be seen that Yutong Bus sold 4,595 large buses in the first quarter of this year, up 118.81% year-on-year, leading the rise of various subdivisions, accounting for its total sales of 7,731 units in the first quarter of this year, nearly 6 percent (59.44%) of the share, occupying an absolute dominant position, indicating that the substantial growth of Yutong buses in the first quarter of this year is mainly driven by large buses, and also reflects Yutong's super strength in the field of large buses.
It is worth mentioning that Yutong has achieved a "double harvest" in the domestic and foreign markets in the first quarter of this year, providing strong support for the substantial growth of its sales in the first quarter.
In terms of the domestic market, in the first quarter of this year, more than 100 orders were successfully delivered, including Sichuan Panzhihua Bus, Nanjing Public Transport Group, Hunan Shaodong, etc.; at the same time, a number of large orders for tourist buses were delivered to Lushan, Taishan and other scenic spots; and 400 orders were successfully won by the Lhasa Transportation Bureau;
In terms of overseas export markets, in the first quarter of this year, 214 and 250 pure electric buses were successfully delivered to Chile and Greece respectively.
In short, the sales volume of Yutong bus in the first quarter of this year increased sharply year-on-year, mainly due to the outbreak of the large bus market and the strong support of large orders at home and abroad.
Second, King Long Automobile
Screenshot 2, March 2024, the first quarter of King Long Automobile's production and sales and year-on-year (data source: King Long Auto Production and Sales Express)
As can be seen from the screenshot 2, the cumulative sales of medium-sized buses in the first quarter of this year rose by 213.82% year-on-year, outperforming and leading the market by 41.98%, with a growth rate of nearly 171.84 percentage points, becoming the strongest driving force to promote the sales volume in the first quarter of this year.
In the domestic market, Xiamen King Long won an order for 200 pure electric commuter buses from Wuhan Tielong Commuter Car Service Co., Ltd. in the first quarter of this year; Suzhou King Long released the new V series and signed multiple sales orders for the new V series with Suzhou Automobile Group Co., Ltd., Xinjiang Youjun Cultural Tourism Group, Guangzhou G9 Tourism Alliance and other enterprises.
In terms of overseas exports, Suzhou Golden Dragon successfully exported 160 buses to Pakistan, and Xiamen Golden Dragon successfully exported 270 buses to Vietnam.
It can be seen that the sales volume of King Long Automobile Group in the first quarter of this year increased sharply year-on-year, mainly due to the outbreak of the medium-sized bus market and its "three dragons" (Xiamen Golden Dragon, Xiamen Golden Dragon and Suzhou Golden Dragon) in the domestic and foreign markets at the same time.
Three, in the bus:
Screenshot 3, March 2024, the first quarter of Zhongtong Bus production and sales and year-on-year (data source: Zhongtong Bus Production and Sales Express)
From the screenshot 3, it can be seen that in the first quarter of this year, the cumulative sales of large buses were 1919, a year-on-year increase of 176.51%, leading the rise of various subdivisions, accounting for the first quarter of this year's total sales of 2514 nearly 8 percent (76.33%) of the share, occupying an absolute monopoly position, indicating that the substantial growth of Zhongtong bus in the first quarter of this year is mainly driven by its large buses, and also reflects the strong strength of Zhongtong in the field of large buses.
It is worth noting that Zhongtong has outstanding performance in the domestic and foreign markets in the first quarter of this year, laying a solid foundation for the substantial growth of its sales in the first quarter.
In terms of the domestic market: in the first quarter of this year, it has successfully delivered a number of batches of tourist buses to Jilin Public Transport Group, Taishan Scenic Area Passenger Transport and Guizhou Tianchen Tourist Passenger Transport Company, demonstrating the comprehensive strength of Zhongtong Bus in the tourist passenger transport market.
In terms of overseas export markets, in the first quarter of this year, it won a large order for 120 new energy buses from Singapore, and successfully delivered 1,022 and 48 export orders from Saudi Arabia. Not only that, Zhongtong Bus also successfully delivered 100 customized school buses to Dominica in the first quarter of this year.
In short, the sales volume of Zhongtong Bus in the first quarter of this year increased sharply year-on-year, mainly due to the strong growth of the large bus market and the strong help of many large orders at home and abroad.
Fourth, Ankai bus
Screenshot 4, production and sales of Ankai buses in March and the first quarter of 2024 and year-on-year (data source: Ankai Bus production and sales express)
As can be seen from screenshot 4, Ankai Bus sold 492 medium-sized buses in the first quarter of this year, up 446.67% year-on-year, leading the rise of various subdivisions, accounting for more than one-third of its total sales of 1440 in the first quarter (34.2%), and its light passenger car sales totaled 624, up 168.97% year-on-year, accounting for more than 4 percent (43.3%) of its total sales in the first quarter.
It can be seen that the outstanding performance of the light passenger car market in the first quarter of this year has made a "great contribution" for its overall substantial growth! It is reported that it is mainly due to its deep cultivation of short and medium-distance tourist passenger transport and rural passenger transport market to obtain fruitful returns!
In terms of the domestic market: in the first quarter of this year, Ankai buses were delivered to Ningbo in batches. Anhui Haoyu, Hefei bus. Especially in terms of fuel cell buses, Ankai buses also performed well in the first quarter of this year.
In terms of overseas markets: Ankai Bus has successfully exported to Dominica, Saudi Arabia and France in batches in the first quarter of this year.
In short, the sales volume of Ankai Bus in the first quarter of this year increased mainly due to its deep cultivation in the short- and medium-distance and rural passenger transport markets, as well as its good performance in the domestic and foreign markets.
Fifth, Yaxing bus
Screenshot 5, production and sales of Yaxing buses in March 2024 and the first quarter of 2024 (data source: Yaxing Bus production and sales express)
From the screenshot 5, it can be seen that in the first quarter of this year, Yaxing Bus sold a total of 693 large buses, a year-on-year increase of 849.32%, leading its various subdivisions (it is also the subdivision model with the highest year-on-year increase among the five bus listed companies in the first quarter of this year), accounting for a share of more than 7% of its total sales of 951 vehicles in the first quarter (73%).
It can be seen that the dazzling performance of the large bus market in the first quarter of this year has become the "pillar" that promotes the substantial growth of its overall sales! It is reported that it is mainly due to several large orders for its exports to Saudi Arabia and other Middle East markets in the first quarter of this year (the main export models are Yaxing large buses x12 large highway buses and C12 large buses).
To sum up, it can be seen that in the first quarter of this year, the five listed bus companies "red across the board" mainly benefited from the outbreak of the domestic tourism market and the recovery of the new energy bus market, as well as the outstanding performance of overseas export markets.
As the domestic tourism market has begun to show recovery growth since last year, the growth momentum of the domestic tourism market has become more prominent this year.
The explosion of the tourism market will inevitably give rise to more demand for the tourist bus market. In order to seize the opportunity of the tourist passenger transport market, Yutong, Zhongtong, Jinlong, Ankai and other enterprises have done enough "homework" in product upgrading and market promotion, so these companies will be able to get more orders for tourist buses in the first quarter of this year;
At the same time, since the beginning of this year, driven by a number of national policies, the domestic new energy bus market has rebounded significantly, and Yutong, Zhongtong, Jinlong and other enterprises have also actively responded and have received a lot of orders.
As for the overseas export market, the five listed bus companies have performed well in the first quarter of this year.
On the one hand, thanks to the increase in demand for buses in the "Belt and Road" countries (or regions), it provides space for the export of five listed bus companies.
At present, the "Belt and Road" initiative has covered more than 150 countries around the world, mainly developing or underdeveloped countries, and is currently in the stage of economic development, with huge growth potential, especially the gradual improvement of infrastructure construction, coupled with the increasing urbanization rate of these countries, so the demand for buses has increased significantly compared with before;
On the other hand, thanks to the continuous enhancement of the international competitiveness of bus products of five listed bus companies.
According to the bus terminal network, the bus products of the five listed bus companies have been continuously improved for their respective target exporting countries, and their cost performance is higher than before, which is more in line with the market demand characteristics of the "Belt and Road" countries (or regions).
There is reason to believe that with the gradual recovery of the domestic economy and the high-quality development of the "Belt and Road" strategy, five listed bus companies in the second quarter of this year or will continue to usher in better development opportunities!