China’s tractor truck market staged a strong rebound in March 2026, with sales reaching 72,300 units, the highest level for the month in five years, as the broader heavy-duty truck sector entered its traditional seasonal peak.

According to wholesale sales data from CAAM, total heavy-duty truck sales stood at 138,900 units in March, up 89% month-on-month and 25% year-on-year.

The tractor truck segment outperformed the overall market, posting a 27% year-on-year increase and reversing a 16% decline recorded in February. On a monthly basis, sales surged 101%, highlighting a sharp recovery in demand. The segment’s growth rate was also 2 percentage points higher than the industry average.

Strongest March in Five Years

March has historically been a peak sales period for China’s truck market, but this year’s performance stands out.

At 72,300 units, March 2026 marked the highest level for the month in five years and the only time in that period that sales exceeded 70,000 units. Compared with March 2025, volumes increased by approximately 15,300 units.

Over a longer time frame, the result ranks as the second-highest March total in the past decade, trailing only March 2021, when sales reached 120,500 units.

Q1 Sales Rise 20% Year-on-Year

For the first quarter of 2026, cumulative tractor truck sales reached 162,800 units, up 20% from a year earlier.

This marks the strongest first-quarter performance in five years and ranking third over the past decade. Compared with the same period in 2025, the market added around 27,600 units.

Growth momentum also accelerated through the quarter, with cumulative year-on-year expansion rising from 16% after February to 20% after March.

Market Leaders Consolidate Positions

Competitive dynamics remained stable in March, with the top 10 manufacturers all posting year-on-year growth.

Three companies recorded monthly sales exceeding 10,000 units, an increase of three compared with February.

Among major players, XCMG delivered the strongest performance, with sales surging 127% year-on-year. FAW Jiefang, Geely Farizon and BAIC Heavy Truck also outpaced the market, posting growth of 35%, 36% and 37%, respectively.

Other leading manufacturers, including SINOTRUK, Shaanxi Auto, Foton, Dongfeng and JAC, all reported double-digit gains, while Shandong REACH continued to grow from a low base.

High Market Concentration Persists

The market remains highly concentrated. In March, the top 10 manufacturers accounted for 98.4% of total sales, while the top five alone held 88.2%.

SINOTRUK and FAW TRUCKS remained the two largest players with market shares of 23.9% and 23.3%, respectively, both exceeding the 20% mark and competing closely for the top position.

They were followed by Shaanxi Auto (15.4%), Foton (13.2%) and Dongfeng (12.5%). XCMG ranked sixth with a 4.5% share.

Manufacturers ranked seventh to tenth — including Farizon, BAIC Heavy Truck, Shandong Leichi and JAC — each held between 1.1% and 1.6%, with relatively small gaps between them.

Notably, the top 10 rankings remained unchanged from February, an uncommon level of stability in a highly competitive market.

Top Players Extend Lead in Q1

In the first quarter, leading manufacturers further consolidated their positions.

SINOTRUK ranked first with 41,300 units and a 25.4% share, followed by FAW Jiefang with 36,700 units (22.6%). Shaanxi Auto, Foton and Dongfeng recorded 24,700 units (15.2%), 21,100 units (13.0%) and 19,800 units (12.1%), respectively.

The top four manufacturers each exceeded 20,000 units in cumulative sales.

XCMG ranked sixth with 8,129 units and a 5.0% share, while Farizon, Shandong Leichi, BAIC Heavy Truck and JAC occupied positions seven through ten, each holding less than 2% of the market.

XCMG and Dongfeng Lead Growth

All top 10 manufacturers reported year-on-year growth in the first quarter, with XCMG and Dongfeng standing out.

XCMG nearly doubled its sales, rising 97% year-on-year, while Dongfeng posted a 30% increase. Both significantly outpaced the market.

Foton and Farizon also performed strongly, with growth of 21% and 24%, respectively, exceeding the overall market rate.

Meanwhile, SINOTRUK, FAW Jiefang, Shaanxi Auto and BAIC Heavy Truck maintained steady double-digit growth, while JAC recorded a more modest increase. Shandong Leichi continued to expand from a low base.

Industry Concentration Continues to Increase

Market concentration increased further in the first quarter.

The top 10 manufacturers accounted for 98.8% of total sales, while the top five maintained a combined share of 88.2%, underscoring the dominance of leading players.

Manufacturers ranked below fifth each held less than 6% of the market, and those ranked sixth and below generally accounted for less than 2%.

Compared with the same period last year, Foton, Dongfeng, XCMG, Farizon and Leichi all expanded their market shares. XCMG recorded the largest gain, up 1.9 percentage points, followed by Leichi (+1.5 points) and Dongfeng (+0.9 points).

Outlook

The strong performance in March highlights solid demand during the peak season, with tractor truck sales reaching a five-year high and maintaining growth momentum.

As the market moves into April, another traditionally strong month for heavy-duty trucks, it remains to be seen whether the growth momentum can be sustained