Have you noticed that the export market of trucks in China is particularly hot this year, and there is often news about the export of main engine manufacturers' vehicles overseas. In the domestic truck sales data disclosed earlier, export also has a great contribution, directly leading the truck market. Below, we will analyze the export market of trucks this year.
According to the data of China Automobile Circulation Association, from January to June 2023, China exported 334591 trucks in total, a year-on-year increase of 33%, reaching a new high in the same period in recent years. At the same time, the 33% growth rate is far better than the 5% year-on-year growth rate of the domestic truck market from January to June.
Among them, the performance of the new energy field is very bright. It shows that from January to June 2023, 24425 new energy trucks (including pure electric and plug-in hybrid) were exported, up 252% from 6942 in the same period last year. Similarly, the 252% growth rate compared with the 27.7% year-on-year growth rate of domestic new energy trucks from January to June is also a crushing victory.
Why did truck exports hit a new high this year? There are three main reasons for analysis.
First, the State supports Chinese auto brands to go global. According to statistics, China's medium and heavy truck brands currently have more than 60 assembly plants operating overseas, which has directly contributed to the expansion of the export business of domestic automobile enterprises. In addition, the overseas development mode has also changed, from the trade mode and some KD modes to the direct investment mode. Vehicles can be directly mass produced in the invested factories, realizing the territorial marketing strategy and increasing the number of truck exports.
Second, Russia's market economy recovered strongly, with GDP increasing by 1.5% in the first half of the year. Russia has always been one of the major exporters of trucks in China. This economic recovery, with high demand for vehicles, has made a great contribution to China's truck export market, accounting for almost 20% of the total. The specific data will be mentioned below.
Third, Chinese trucks are cost-effective. Compared with European brand models, they have the advantage of good quality and low price, and meet the market demand of developing countries along the "belt and road". Moreover, these countries are in the rising period of economic development, with high demand for trucks and few import restrictions.
