China's New Energy Heavy Trucks See Record Sales in 2024

December 2024 was a milestone for China's new energy heavy truck market, with sales reaching 15,200 units. This marked a 146% year-on-year increase and a 51% rise from the previous month. The sector has now achieved 23 consecutive months of year-on-year growth, setting a new sales record.

Leading Brands and Market Performance

In December, 11 companies sold over 100 units, 10 exceeded 600 units, and 6 surpassed 1,000 units. XCMG led the monthly sales with 3,144 units, followed by SANY with 2,754 units, and FAW Jiefang in third place with 1,805 units. For the full year, total new energy heavy truck sales hit 82,000 units, up 140% from 2023, capturing a 9.9% market share.

Among the top 10 brands in 2024, XCMG secured the highest annual sales, followed by SANY and FAW Jiefang.

Market Breakdown by Model

From January to December 2024, pure electric heavy trucks dominated the market, with 77,100 units sold, accounting for 94.06% of total sales. Fuel cell heavy trucks sold 4,421 units, while hybrid models reached 451 units. The share of pure electric heavy trucks grew significantly compared to 2023.

Brand Highlights

Farizon Auto: Ranked among the top brands, Farizon sold 607 units in December, securing a 3.99% market share. Its total sales for the year reached 4,066 units, reflecting a 12.44% year-on-year growth. The brand also hosted the Farizon Ecosystem Partner Conference in Zhejiang, where it launched the Yulong Smart Drive brand and introduced an industry-first smart driving solution integrating vehicle and satellite connectivity.

BYD Commercial Vehicles: In 2024, BYD launched the T25 and T31 electric engineering trucks, equipped with its Blade Battery. These vehicles feature high safety, long lifespan, and ultra-fast charging with a 300kW dual-gun system, improving efficiency and hill-climbing capability.

FAW Jiefang: In December, FAW Jiefang sold 1,805 new energy heavy trucks, achieving an 11.88% market share with a 353.52% year-on-year increase. Its annual sales hit 9,490 units, up by nearly 400%. The company introduced over 30 new models for express delivery and long-haul logistics, aiming to expand its market presence further.

Shaanxi Heavy Duty Truck: Sold 1,191 units in December, growing 310.69% year-on-year. Its total 2024 sales reached 6,900 units. The brand offers a full lifecycle service and fast battery-swapping solutions for improved efficiency.

Dongfeng Commercial Vehicles: Reported sales of 1,557 units in December, growing 232.69% year-on-year. Its 2024 total reached 7,096 units. Dongfeng also introduced a hydrogen-powered truck with a 260kW fuel cell system for greater efficiency.

Foton Auman: Sold 670 units in December, up nearly 600% year-on-year. Its annual total was 4,734 units. The company launched new electric heavy trucks with megawatt-level fast charging, enhancing operational efficiency.

Market Outlook

New energy heavy trucks now account for over 20% of China's heavy truck market, and this share continues to grow. Driven by government policies and increasing demand for sustainable transport, the industry is expected to maintain strong growth in the coming years.