China Exported 65,000 Trucks in July, Up 17% YoY

According to data released by the China Association of Automobile Manufacturers (CAAM), China's truck exports reached 65,000 units in July, up 17 per cent year-on-year. In January-July, China exported a total of 399,000 trucks, up 30 per cent year-on-year.

What are the main features of the export market in July, 2023?

Feature 3: Light trucks lead the export and tractor head exports experienced the highest growth rate.

Proportion of all kinds of trucks by ton are as below.

In June and January-June, China’s exports of light-duty trucks reached 29,000 and 179,000 units, or 44.6% or 44.9% of all truck exports, with a -15% and slight 1% increase year-on-year.

Export volume of tractors reached 18,000 and 90,000 units, up 161% and 137% year on year, accounting for 27.7% and 22.56% of all truck exports.

Heavy-duty trucks ranked third in export volume with 13,000 units and 77,000 units exported respectively, up 52 and 63% year-on-year, accounting for 20% and 19.3% of all truck exports.

The volume of other segments is much smaller with a market share of less than 6%.

Feature 4: All electric trucks lead in export growth and diesel ones lead in export volume

Exports of trucks powered by various power, January-July 2023

The export volume of all electric trucks reached 27,146 units with year-on-year growth of 209%, the highest among all segments. This is mainly due to the fact that exporting countries are also actively promoting carbon reduction and the electrification of trucks, as well as the low base of pure electric trucks exported in the same period last year.

Diesel-powered trucks still maintain the dominant position in the overseas truck market with 285,300 units exported in July and 32% year-on-year growth, accounting for 71.4% of the market share.

Russia was the overwhelming destination for trucks produced in China during July, accounting for 29.9% of exports, followed by Mexico at 7.4% and Australia at 5.38%. Russia ranked first with a 464% year-on-year increase in July, and was the only country among the top 10 to import more than 10,000 trucks from China.

Mexico and Australia ranked the second and the third, with exports of 4,807 and 3,500 units respectively and increase of 28 per cent and 22 per cent year-on-year.

The top ten exported a total of 414,434 units, accounting for 63.77% of the total, up 21% year-on-year.

Feature 5: Russia leads the exports, followed by Mexico and Chile

Top Ten Exporting Destination Countries During Jan.-July, 2023Russia is the country with the largest number of trucks imported from China, and the only one to exceed 80000 units (a 566% jump year-on-year), with a market share of 22.21%. This is something China trucks depend on for a significant increase in Jan.-July, 2023.

Mexico and Australia ranked the second and the third, with exports of 35404 and 17018 units respectively and increase of 76 per cent and 32 per cent year-on-year.

The top ten exported a total of224545 units during Jan.-July, accounting for 56.24% of the total, up 35% year-on-year.