China’s light truck market continued its upward trajectory in May, with sales reaching 160,100 units, a 2% increase year-over-year, according to data released by the China Association of Automobile Manufacturers (CAAM). This marks the fourth straight month of annual growth, despite a broader downturn in the commercial vehicle sector.

Overall commercial vehicle and truck sales both declined 2% compared to May 2024. However, light trucks, along with heavy trucks—which rose 14%—were the only truck segments to post gains. Medium and mini trucks fell sharply, down 28% and 34%, respectively.

From January through May, light truck sales totaled 867,500 units, up 8% from the same period last year and outpacing the truck market’s overall 1% growth. The five-month figure is the second-highest total for the period in the past decade.

May’s sales volume of 160,100 units places the month among the strongest in recent years. Over the past ten years, May sales for light trucks typically ranged between 130,000 and 180,000 units, with this year’s total ranking fourth.

Foton Maintains Lead as Farizon and BYD Record Strong Growth

Six manufacturers each sold more than 10,000 units in May. Foton led with 32,800 units sold, capturing 20.47% of the market. JAC and Great Wall Motors followed, each selling 15,500 units. Other top sellers included Dongfeng (14,900 units), Changan (14,100 units), and Farizon, a Geely subsidiary (10,600 units, 6.62% share).

Additional brands such as JMC, Shineray, and Sinotruk reported sales above 8,000 units. Combined, the top 10 companies accounted for 86.29% of the market.

Farizon led the month’s growth rates with an 89% year-over-year increase. BYD posted a 518% jump, while Shanxi Chenggong rose 127%. JAC, Shineray, and Maxus also recorded double-digit growth.

Year-to-Date Trends Show Shifting Rankings and Rising Newcomers

Brand rankings saw notable movement in May. JAC climbed to second place, Changan advanced to fifth, and Shineray rose to eighth. Foton, Great Wall, JMC, and BYD maintained their positions from April.

During the first five months of the year, Farizon and BYD led in growth, with sales up 93% and 2,155%, respectively. Foton, Sinotruk, and Maxus also outperformed the market average. Some brands reported sales declines, with two companies down more than 10% year-over-year.

Market share gains were most significant for BYD and Farizon, which added 2.55 and 2.34 percentage points, respectively. Foton, Great Wall, and others also posted modest increases.

Despite a modest pace, the sustained growth in the light truck sector suggests underlying demand remains resilient. Industry observers will be watching closely to see whether the momentum continues into the second half of the year.