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New Energy Heavy Trucks Saw 127% YOY Growth in August 2022


Statistics show that China’s new energy truck sales went up 127% y-o-y and up 28% m-o-m to 1847 units in August. From January to August, the sales volume of heavy new energy trucks summed up to 13,400 units, up 319% year on year, which are 3000 units more than the full year sales volume of 2021.

Share Change of Each New Energy Heavy Truck Types

Pure electric heavy trucks have been performing strongly and continue to maintain their dominance, accounting for nearly 93.67% of all heavy-duty new energy trucks, while hydrogen heavy trucks and hybrid heavy trucks accounted for 6.24% and 0.09% respectively. However, in 2021, hydrogen fuel cell heavy-duty trucks still accounted for 12.16% of the total.

As of end of August, hydrogen heavy trucks has accumulated a total sales of 837 units, up 115% year-on-year. Among them, 173 hydrogen fuel cell heavy trucks were sold in August, up 355% year-on-year, far better than the overall market performance.

In August, SANY topped the monthly sales list with sales of 379 units of new energy heavy trucks, 24 units more than the second place XCMG. This is also the fourth time that SANY has topped the monthly sales list of new energy heavy trucks in the year.

From the increase point of view, the top three SANY, XCMG and CAMC jumped 1078%, 630% and 176% respectively year-on-year. And both SANY and XCMG’s growth rate are substantially higher than that of the overall market (319%). In addition, FOTON, SAIC Hongyan, SINOTRUK and Foshan Feichi also withnessed an impressive growth rate due to the relatively small base last year.

Top 10 Players of New Energy Heavy Trucks in January-August 2022 Period (Unit)

In 2021, new energy tractors accounted for 52.9% of new energy heavy trucks as the demand for new energy tractors continued to rise month by month. By January, 2022, new energy tractors have made up a 51.6% share of new energy heavy trucks. Eight months later, new energy tractor has saw its share increasing to 58.67%, representing a 3.42% increase over the same period last year. In contrast, new energy heavy-duty special vehicles above 12 tonnes accounted for only 17.58% of new energy heavy trucks, which are 10.91% less than the figure of the same period last year.

Share Change of Each Segment of New Energy Heavy Trucks in Jan.-August from 2020 to 2022

The most important reasons for this case are that new energy tractors have been operating in a mature way in mines, steel mills, power plants and ports and are ready for a wide application scenarios in future.

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