Yuchai Expands into Markets Related to the Belt and Road
www.chinatrucks.com: Yuchai sees increasing orders from the oversea market. This year, Yuchai receives big orders in Myanmar, Saudi Arabia, and Kuwait, etc. Before May, the oversea orders have exceeded 5,000 units. At present, the Saudi Arabia is a big market. If the petroleum price rises, the orders in these countries will break through 4,000 units. In the new market Myanmar, thanks to the “Belt & Road”, it has already had 2,200 units sold, followed by 2,000 units in near future. At resent, Yuchai hold steadily the big orders from the oversea market. It is estimated Yuchai will sell 10,000 engines for buses in the oversea market and 76,000 units in China market.
Currently, Yuchai has commenced its product transformation and gone out leveraging the “Belt & Road” to seek for bigger segmented market and make new breakthroughs. In Q1 2017, it exports almost 12,000 units, 61.8% of which is for Southeast Asia market, 12% for Latin American market up by 83.9% year on year and for the East Asia, the growth is 265.8% year on year. In Africa, Yuchai’s vehicle engines enter many countries up by 73.3% year on year. Its general engine breaks the ice in the East Africa and is up by 189.4% year on year. By far, only in May, the export orders surpass 5,200 units, the first time breaking through 5,000 units in one single month over the past 6 years.
Seen from product structure, the export orders are mainly truck and bus engines. Vietnam becomes the main contributor to the truck engines due to its policy on emission upgrade. Bus engines receive good results in several countries such as entering Saudi Arabic and Kuwait and making great breakthrough in Saudi Arabic pilgrimage vehicle market. The next step for Yuchai is to seizing the opportunities brought by China’s “Belt & Road” strategy to better complete its oversea arrangement and speed up its internationalization.
Launching new product is an important measure for each engine manufacturers in exploring new market. There is no exception for Yuchai. According to Chairman of Yuchai Yan Ping, state-6 T4 engine is top priority in 2017 and a key step for Yuchai to squeeze in international leading companies. Yuchai’s China-6 engine has entered into a waiting stage and will be launched in the second half year.
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