Export sales climb as Chinese trucks demonstrate strong competitiveness

From January to June 2024, China exported a total of 351000 trucks, a year-on-year increase of 6%, setting a new high for the same period in nearly 7 years.
 This achievement is not only higher than the growth rate of the domestic truck market, but also higher than the year-on-year growth rate of the entire truck market.

It is not difficult to see that in recent years, the Chinese truck export market has shown a strong growth trend, not only setting new records in export quantity,
 but also demonstrating strong competitiveness in the international commercial vehicle market.

In the first half of 2024, China's truck export sales significantly increased, becoming an important growth point for China's automobile exports. It is understood that China's truck export market is extensive, covering multiple regions such as Asia, Africa, and Latin America. Among them, countries and regions such as Mexico, Vietnam, Russia, and Saudi Arabia are the main destinations for China's truck exports. These markets have shown a high demand for cost-effective Chinese truck products.

In terms of export vehicle models, there is a leading trend in light trucks, mainly due to the flexibility and high cost-effectiveness of Chinese made light truck products, which have been highly praised by overseas users. According to data, from January to June 2024, a total of 179000 light trucks were exported, a year-on-year increase of 19%, with a market share of over 50%.

Moreover, due to the increasing overseas recognition of Chinese brands, the demand for categories such as medium trucks, tractors, dump trucks, and construction vehicles is also constantly growing, resulting in a significant increase in export volume.

In terms of power types, the models exported and sold in China are still mainly traditional energy vehicles (gasoline and diesel). From January to June 2024, diesel truck exports accounted for over 70%. Although the export volume of new energy commercial vehicles is relatively small, their market potential cannot be ignored due to the impact of global electrification trends and the emphasis on environmental protection and sustainable development in various countries around the world.

From the perspective of global commercial vehicle sales patterns, Chinese trucks have a significant price advantage compared to top tier trucks worldwide; Compared to second - and third tier or regional small brand trucks, Chinese trucks are more robust and durable.

Due to relatively low production costs, domestic trucks are generally priced lower than imported trucks, making it easier for foreign truck users to accept. In addition, the lower maintenance costs of domestically produced trucks further enhance their market competitiveness.