Tractor Sales Continue to Rise with 150,600 Units Sold in Sept.

Date:2020-10-14 Source:www.chinaspv.com

Sales of heavy-duty trucks in China rose 80 percent YOY in Septermber to 150,600 units, following a 78 percent increase in August. Of which, tractor segment rose 93 percent YOY to 75,300 units for the month, which is higher compared to the heavy-duty truck market (roughtly 80%).

Tractors sales soared 93 percent to 75,300 units, nearly double the level recorded in Sept., 2019. Overall, 9 out of 10 truck makers have achieved positive growth and five even reached more than 100 percent increase. Specifically, Beiben has seen the strongest growth of 282 percent, followed by Hongyan at 248 percent, SINOTRUK at 242 percent and JAC at 228 percent. The other two makers, SHACMAN and FOTON, also recorded a growth of 96 percent and 113 percent respectively, higher than the industry level.

With regards to market share, the top nine together created a 99.09 percent of the market share and the top five together created a 87.46 percent of the total market share. According to the statistics above, FAW Jiefang was ranked No.1 in the market with 25.77 percent of market share. The second position in this ranking was occupied by SINOTRUK, with a 22.41 percent share. SHACMAN ranked third with a 15.92 percent share. It was followed by Foton, with a 11.84 percent share and Dongfeng with a 11.53 percent share.

For the first nine months, the total sales of tractors rose by 53 percent YoY to 641,100 units, 223,400 units more than the level recorded last year. Overall, 9 out of 10 makers has seen a positive growth with hongyan postint the highest growth of 165-percent, followed by Foton at 100 percent, SINOTRUK and JAC at 70 percent. Dongfeng, located in the epicenter of the global pandemic, also achieved a positive 34 percent growth to date despite a 18 percent decline in March this year due to Covid 19.