China’s Domestic Tractor Sales Exceed 40,000 Units in January

China’s tractor head sale rose by 105 percent month on month to 43,000 units in January, according to data announced by CAAM.

CAAM said China has sold a total of 95,400 units of heavy-duty trucks in the domestic market in January. Among which, Tractor head as the most popular segment saw a sales of 43,000 units, down 50% year-on-year. However, the 43,000-unit sales of tractor head in January represent a 105% month-over-month increase compared to that of December last year (and the heavy truck market as a whole saw a 66% month-on-month increase). It is important to note that the tractor market has failed to exceed 40000-unit sales for six straight months. The 43,000 units sold in the tractor market in January 2022 was the best performance in the last seven months. The 43,000 tractors sold in January 2022 has already been the best performance in the past seven months.

Tractor Head Sales in January, 2022 (Volume: Unit)

As seen in the table above, the tractor market fell by 50% year-on-year in January, narrowing by 9 percentage points from the previous month (in December 2021, the tractor market went down by 59% year-on-year), around 42,000 units fewer compared to the same month last year. To be specific, three out of the top ten including SINOTRUK, Dayun and CAMC achieved a positive growth of 176%, 6% and 7% respectively. The decline most enterprises experienced reached double digits. Five fell by more than 50 percent, one plummeted by 78 percent. Dongfeng and Beiben's decline was lower than the overall market decline of 50 percent.

In January, two companies, SINOTRUK and Jiefang, sold more than 10,000 units, reaching 12,800 units and 12,700 units respectively. It has been six months since there was company achieving sales of more than 10,000 units last time. In January, the combined share of the top ten companies reached 99.44% by volume with the rest companies holding a mere 0.56% share, fewer than 300 units in total.