China’s Tractor Sales Saw Surging Growth in July

Heavy-duty truck sales in China rose 84 percent from a year earlier to 139,300 units in July, an increase of 21 percent compared with 63 percent increase a month earlier, according to the data. As a segment getting the most attention in heavy-duty trucks, the sales volume of tractors in July reached 72,000 units, 16 percent less than last month and 103 percent higher than the 2019 level.

China saw tractor sales increased by 103 percent from a year earlier in July. More specifically, seven companies in top ten saw a positive increase of various degree. Hongyan took the first place with an increase up to 377 percent followed by CAMC with an increase of 219 percent. Meanwhile, other three companies achieving a possitive growth are Jiefang, Foton and Beiben, which are up 107 percent, 157 percent and 149 percent respectively.

As for cumulative growth, 10 thousand units more tractors have been sold during the Q1 with a year on year growth of 6 percent. As of July, China has achieved a cumulative increase of 45 percent for tractor sales volume with 156,500 units more sold than the January-July period last year after a consecutive growth between April to July. Hongyan, with a growth rate of 145%, ranked the first place in the industry, followed by Foton at 94% and CAMC at 65%.

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