China Saw 51 Percent Increase in Tractors in January

The data showed that in January a total of 116.6 thousand heavy-duty trucks were sold in China, with a year-on-year increase of 18 percent. Among them, around 63.6 thousand tractors were sold, up 51 percent from a year earlier.

As shown from the data above, China has experienced a 51 percent increase in the sales of tractors, approximately 20 thousand units. Seven out of top ten truck makers have maintained a double-digit growth. We observed that there were three truck makers led by Foton maintained a more than 100 percent growth. Specifically, Foton is up 108% YoY, Hongyan up 228% YoY and CAMC up 187% YoY to 754 units.

When view from a market share perspective, the top ten truck makers hold a collective market share of 99.64 percent. Of the top ten truck makers, Jiefang , SHACMAN, Foton, Dongfeng and SINOTRUK, the five brands together account for almost 91.03 percent of the total share. FAW Jiefang ranked first overall, with nearly 55.73 percent market share alone, maintaining a steady robust growth.