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[Sina Finance] SINOTRUK export sales reached a record high of 37,000 units in the first quarter

May 30, 2024

SSE China Securities Network News recently, the export sales of heavy trucks increased significantly, the overseas market has become a popular track of the industry competing for the moment. Despite the trend of intensifying competition, relying on years of overseas market layout and deep plowing, China National Heavy Duty Truck (15.250, -0.06, -0.39%) still maintains a leading position, both in terms of sales volume and product mix, the company has already occupied a solid competitive advantage, and is accelerating the expansion of the influence of the global market.

Export has always been the strength of China National Heavy Duty Truck (SINOTRUK ), and it is also an important support to help the company go through the cycle in recent years and reach the first place in the industry’s market share. 2023, SINOTRUK ‘s export sales of heavy-duty trucks amounted to 130,100 units, an increase of 47% year-on-year, occupying half of the industry, hitting a new record high, and making the company top the list of heavy-duty trucks exported in China for the 19th consecutive year.

Entering 2024, China National Heavy Duty Truck export continued to be strong, with export sales reaching 37,000 units in the first quarter, hitting another record high. The company has built up a first-mover advantage, and the establishment of word-of-mouth and brand recognition has put the company in a favorable position in the competition.

In terms of product structure optimization, China National Heavy Duty Truck (SINOTRUK ) has completed the high-end leap ahead of the industry. 2023, the company’s export of high-end heavy trucks accounted for more than 40%, a doubling compared with 2022, which means that SINOTRUK ‘s product strength and brand have been recognized by the overseas market.

Looking back to the company’s history, the overseas market has witnessed the development of CSCIC’s continuous development and progress. 2003, CSCIC exported only 40 heavy trucks; after the development and growth in recent years, in 2020, the company has 256 dealer networks, 277 service outlets and 12 KD factories, and has exported 31,000 vehicles.

Prospectively exploring opportunities in the export market, setting the goal of realizing world-class level, reforming and innovating, integrating advantageous resources to continuously improve the global competitiveness of products are the reasons behind the overwhelming power of China National Heavy Duty Truck (SINOTRUK ) in the overseas market nowadays.

Years of reform and innovation have made China National Heavy Duty Truck (SINOTRUK ) sit at the top of the market share in the domestic industry. According to the data of China Association of Automobile Manufacturers (CAAM), from January to April 2024, China National Heavy Duty Truck Corporation (CNHDC) sold a total of 99,986 heavy-duty trucks, a year-on-year increase of 12.7%, and its market share expanded to 28.2%. Facing the future, the company keeps moving forward. At the 2023 Partner Conference, China National Heavy Duty Truck (SINOTRUK ) declared that it will challenge for the global No. 1 position and be the best commercial vehicle in the world, signaling that SINOTRUK  is expected to show stronger competitiveness and influence on the global stage. (Tan Pengpeng)

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