China Truck Makers to Come Out as Winners from the Belt & Road Initiative

Date:2017-05-31 Source:www.chinaspv.com

www.chinatrucks.com: In 2016, the export of Chinese complete trucks is 186,000 units. Sinotruk exports one third of annual production and Foton sells around 58,000 units, up by 9% year on year. “From 2011 to 2014, SHACMAN maintains an export of 10,000 units every year”, said Zhang Xiaohui, “SHACMAN remains export over 5,000 units in 2016 despite of low demands in international market due to sluggish economy and decreasing price of crude oil.”

China Truck Makers to Come Out as Winners from the Belt & Road Initiative

The Belt and Road Initiative, a development strategy was proposed by China in 2013. Three years later, the Belt and Road Forum for International Cooperation is held in Beijing in May 2017, indicating the great importance to which China attached.

Currently, the export of Chinese trucks is mainly in developing countries in Middle Asia and Southeast Asia, which are also the countries alongside the “Belt and Road”. The “Belt and Road” brings new opportunities for Chinese trucks in overseas market not only to deepen mature markets but to explore new markets.

China Truck Makers to Come Out as Winners from the Belt & Road Initiative

It is believed that with the deepening of the “Belt and Road” heavy truck will see great chances because of the increasing infrastructure projects and increasing chances in overseas project construction. Tractors and dumpers take a large share in export. For example, over 80% export of SHACMAN heavy trucks are tractors and dumpers.

Previously, Chinese trucks are always impressed as “low quality and low price” compared with European and American high-end trucks. And the export is mainly to developing countries in Africa and Southeast Asia. This situation is changing in recent years and some companies are trying to explore the high-end market.

SINOTRUK is speeding up the arrangement in Ireland, New Zealand, Singapore, etc. and fighting for entering the world’s top automobile manufacturers. Foton also comes up with strategic plan in product upgrade and structure adjustment which is to transmit from medium level products to high-end products by introducing new products based on current ones.