The Chinese heavy truck market grew by 50% month-on-month and 29% year-on-year to 77200 units in February, 18,000 units more than the 59,400 units sold in the same month last year. Heavy truck sales in January-February 2023 amounted to 125,900 units, down 19% compared to the same period last year.

The year-on-year growth in February will give great confidence to the upstream and downstream of the industry chain. It ended a 21 months of decline in a row in heavy truck market since May 2021 and marked a milestone.

Most truck manufacturers saw their sales increase in February, with four including FAW Jiefang, SINOTRUK, Dongfeng and SHACMAN selling more than 10,000 units. SINOTRUK ranked first with sales of 22,000 units. XCMG heavy trucks recorded the highest sales growth rate of 69% in February. Exports continued to be one of the highlights of the heavy truck market, with SINOTRUK and SHACMAN benefiting the most, as exports accounted for a relatively high proportion of their total sales.

Specifically, FAW Jiefang held around 17.32% of market share with sales of 21,100 units in the January-February period and achieved sales of 13,400 units in February.

SINOTRUK sold about  22,000 heavy trucks in February this year, up 83% year-on-year; its cumulative sales from January to February were about 35,500 units, with its market share moving up to 28.22%. Exports of heavy trucks by SINOTRUK account for almost half of all heavy truck exports in China.

Dongfeng achieved a 42% increase in heavy truck sales in February, reaching 13,400 units.  From January to February, Dongfeng achieved sales of 20,900 heavy-duty trucks, ranking second in the industry with a 16.57% market share.

In February, SHACMAN's sales of heavy trucks reached 11,800 units. From January to February this year, SHACMAN’s accumulated sales in heavy truck segment stood at 21,200 units, up 38% year-on-year, with a market share of 16.8%. FOTON achieved a solid result in February with 9425 units sold, an increase of 60% year-on-year. From January to February, Foton achieved cumulative sales of 15,100 units, with a 2.7% increase in market share to 11.98%.

Dayun’s sales of heavy trucks reached 1768 units, up 42% year on year. Dayun’s cumulative sales from January to February reached 3,040 units with a market share of 2.41%, ranking sixth in the industry. JAC sold about 1,508 heavy trucks in February this year, ranking seventh in the industry. Its cumulative sales from January to February amounted to 2,238 units, representing a market share of 1.78%.

In February, XCMG sold around 1297 heavy trucks, an increase of 69% year-on-year. From January to February, XCMG's total sales of heavy trucks reached 2,117 units, with a market share of 1.68%, ranking eighth in the industry. SAIC Hongyan achieved sales of 475 heavy trucks in February, with sales of about 1,082 units and a market share of 0.86% for the January-February period this year.