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Recently, many bus and heavy truck listed companies have issued pre-addition announcements or sales growth reports. Weichai Power even expects to double its profit in the first half of the year. The latest statistical data from the China Automotive Technology and Research Center further reveals the current positive trend of commercial vehicles.
According to the China Automotive Technology and Research Center, in June this year, China produced 338,100 commercial vehicle vehicles, an increase of 18.73% year-on-year; sales of 292,700 units, a decrease of 5.23% from the previous period and a year-on-year increase of 23.82%. In the first six months of this year, the cumulative production and sales volume of commercial vehicles in China was 2,220,700 units and 1,767,700 units respectively, an increase of 42.54% and 48.05% year-on-year. The increase in sales volume is much higher than that of the passenger vehicle market. In the first half of this year, the sales volume of passenger vehicles has increased by a cumulative 25.58% year-on-year.
In an interview with reporters, senior executives of several auto companies believe that in the first half of this year, all major segments of commercial vehicles have seen encouraging gains, and some segmented markets have grown by more than 50%. However, many companies are not satisfied with this, Weichai Group Chairman Tan Xuguang sighed, if not the lack of capacity, its heavy truck engine sales will be even more alarming.
The two leading Chinese heavy truck companies, Weichai Power and China National Heavy Duty Truck, soared. Sinotruk's parent company, Sinotruk Group, sold 98,937 vehicles in the first five months of this year, a year-on-year increase of 70.33%. Weichai Power maintained high-profile growth expectations and announced on June 29 that "Accrued net profit for the first half of 2010 is approximately RMB 2.56 billion to RMB 3.170 billion, an increase of approximately 110% to 160% year-on-year." Different customers, many customers in the first half of this year suffered from the production of heavy-duty trucks Weichai Power, but due to lack of capacity, Weichai Power's workers can not quickly meet the needs of customers overtime.
The major bus companies listed also can't wait to hand over high-growth papers. Ankai said that it sold a total of 4,828 buses and chassis in the first half of this year, an increase of 106.50% year-on-year. Leading passenger bus company Yutong said that in the first half of this year, a total of 16,983 passenger cars were sold, an increase of 49.49% year-on-year. The China Automotive Technology and Research Center stated that the high growth of the passenger car market stems from the country’s various investments and the improvement of the international situation, and the passenger demand has picked up.
In the first half of the year, the growth of commercial vehicles exceeds 40% of heavy trucks