Sinotruk Jan-Jul sales down 17% to 48,100 units
Sinotruk (Hong Kong) Ltd., China's largest heavy-truck manufacturer by sales, has announced that it sold 5,672 vehicles in July, and the sales in the first seven months of this year came to 48,100 units, down 16.67% year on year, xinhuanet.com said today.
The company produced 6,021 heavy trucks in July and the output from January to July totaled 52,800 units, down 2.85% from a year earlier.
China National Heavy Duty Truck Group Co., Ltd. (CNHTC, or Sinotruk Group), the parent company of Sinotruk, produced 9,216 units and sold 9,557 last month. The group's output in the first seven months totaled 75,000 units, down 1.33% y/y, and total sales came to 77,700 units, up 2.13% y/y.
Last month, Volvo AB agreed to withdraw from its truck venture with Sinotruk Group, moving closer to a possible tie-up with Dongfeng Motor Group. The venture's production had been suspended for several years due to poor sales.
The move followed Sinotruk's new $800 million tie-up with Europe's MAN. In mid-July, the Hong Kong-listed truck giant agreed to sell a 25% stake in itself to German truck maker MAN SE for €560 million ($796 mln).
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