Chinese Heavy Truck Makers Set Higher Sales Targets for 2020
Several Chinese heavy truck manufacturers have lifted their sales target for this year following higher sales during January-July and potential increased demand in the coming months.
Domestic sales of heavy trucks rose to 960,000 units during January-July, up by 31.4pc from a year earlier, driven by increasing infrastructure construction following the easing of the country's Covid-19 outbreak and the government's drive to eliminate and replace old and used trucks to meet stricter emissions standards. The rising sales of heavy trucks are expected to boost demand for metal feedstocks such as aluminium, magnesium, silicon and steel.
FAW Jiefang has raised its 2020 sales target to 350,000 units from 300,000 previously after selling 264,900 during January-July, up by 38pc from a year earlier.
China National Heavy Duty Truck Group sold 144,700 units during January-July, up by 25pc from a year earlier. The firm has lifted its sales goal to 250,000-300,000 units for 2020 from 200,000 planned previously.
Sales from Shaanxi Automobile Group increased by 19pc to 130,600 units for January-July, with it aiming to sell 220,000-250,000 units this year compared with an initial target of 200,000.
Foton Automobile has not updated its sales target. Its sales increased by 81pc from a year earlier to 92,965 units during January-July. The company is likely to meet its target of 100,000 units in August.
Demand for trucks with less emissions are expected to continue to strengthen for the rest of this year in line with China's plan to reduce air pollution. More than 1mn units of ageing heavy trucks are required to be replaced in Beijing and Tianjin cities, as well as Shanxi and Shaanxi provinces by the end of 2020, according to market participants.
Submit Your Requirements, We Are Always At Your Service.
- Foton Launches “IECO” Brand: A New Era for Smart CV Ecosystem
- FOTON Celebrates 1 Millionth Export Vehicle and New Factory in Thailand
- Sinotruk and DHL Partner to Boost Spare Parts Supply Efficiency in Mexico
- Automechanika Shanghai 2024 Set to Open on December 2nd
- Foton Participates in the 4th Abidjan Infrastructure Expo
- XCMG Makes an Impressive Debut at the FENATRAN in Brazil
- WeRide Secures Dual Licenses for Autonomous Sanitation Vehicles in Singapore
- BYD Showcases Green Innovations at SITCE 2024 in Singapore
- CIMC to Showcase Innovations at Auto Guangzhou 2024
- Changan and CATL Deepen Partnership
- Heavy Truck Sales Reached 56,000 units in First Three Quarters 2024
- Heavy Truck Sales in September 2024
- Heavy Truck Sales Reach 59,000 Units in July in China
- Tractor Sales in H1, 2024 Reached 162,100 Units, Up 4%
- China's Truck Export Reaches 351,076 Units in H1 2024
- XCMG Dominates 2024 with Record Sales in New Energy Heavy Trucks
- Mid-Year Pickup Market Report: JAC Exports Up 13%, JMC Exceed 36,000 Units
- Truck Exports in May 2024: China Exported Close to 65,000 Trucks
- Exports of Pickups Reached 22,892 Units in May
- Exports Surge by 157%! DFAC Exports 9,628 Vehicles from January to May