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Industry shows signs of recovery, Sinotruk's market share continues to lead in the first three quarters

October 13, 2022

China Association of Automobile Manufacturers recently announced the first three quarters of this year's heavy Truck market sales.。September 2022,China's Heavy Truck Sales 5.20,000,This year 1-Total sales in September: 52.30,000。China Heavy Truck Heavy Truck Market Share Continues to Lead,Heavy truck sales in September 1.30,000,Cumulative sales volume in the first three quarters 12.60,000,24% market share%,Continue to lead the industry。

Sinotruk's dominant position remains stable

According to the September data,Competition pattern of domestic heavy truck market,Sinotruk continues to maintain its leading edge。The data shows,Third quarter of 2022,Sinotruk's sales exceeded 10,000 for three consecutive months,For the first time this year, it has won the monthly sales championship for three consecutive months.,The dominant position is more stable.。The first three quarters of this year,Sinotruk sells 12 heavy trucks.60,000,Cumulative market share of 24%,Top of the industry。

End of August,Sinotruk(3808.HK)Announce first half results,Realized operating income 290.300 million yuan,Net profit attributable to parent company 12.800 million yuan。In the context of the overall downturn of the industry, the company has achieved counter-trend advancement.,Heavy truck sales and market share for the first time in nearly ten years“Double first”,Reflect the company's development resilience。At the same time,The average price of the company's bicycles、Operating profit has rebounded significantly.。CITIC Securities Research Report shows,In the first half of this year, Sinotruk's revenue per Vehicle was 32..Ten thousand yuan,Year-on-year growth of 14%;Domestic business revenue per Vehicle amounted to 36.90,000 yuan,Year-on-year growth of 29%。The company's bicycle profit increased from 0 in the first half of 2021..0.6 million yuan increased to 1.550,000 yuan。

Sinotruk also has optimistic expectations for the future development of the market.。The company said in its semi-annual report.,As the economic situation stabilizes and improves,,Steady growth in freight demand;Advance release of capital construction investment,Accelerated investment in water conservancy projects and transportation infrastructure,It will stimulate the market demand for medium and long distance bulk raw material transportation.、Stimulate the demand for engineering heavy trucks。

Heavy Truck Sales Decline Narrows, road freight Support Policies Frequent

From the overall situation of the industry,This September,Domestic heavy truck sales data did not stop the pace of year-on-year decline.,But August、Heavy truck sales in September have been growing for two consecutive months.,The month-on-month growth rates were 2%、12.1%。
In addition,In the past two months, the year-on-year decline in heavy truck sales has narrowed significantly compared with the first half of the year.。First 9 months of this year,The highest decline was 77 in April..3%。August、The decline narrowed to 10% in September%And 12.5%。Industry insiders said,Recent heavy truck sales year-on-year decline narrowed,On the one hand, sales in the same period last year were at a relatively low point.,On the other hand, the dealer's inventory is further digested after several months.,There are signs of a rebound in sales in the market.。With the effective landing of road freight favorable policies recently issued by the state,,Heavy truck sales are expected to continue to improve in the fourth quarter.。

September twenty eighth,Ministry of Transport、The Ministry of Finance issued a document,In the fourth quarter of this year, on the basis of continuing to implement the existing toll reduction and exemption policies,,The tollway of the whole country will reduce the toll of trucks by another 10 percent%。Reduce the burden of road transport practitioners、The intention of optimizing the logistics business environment is obvious.。September 29,Ministry of Transport、Jointly issued by the National Development and Reform Commission《Circular of The State Administration of Taxation of The People's Republic of China, on Reducing The Charging Standard of Port Charges for Goods by Stages》,Requirements for the fourth quarter of this year,Port charges for goods subject to government fixed prices will be reduced by 20 percent%,Or to promote the commercial Vehicle market in the fourth quarter of this year。

At the same time,Local governments have issued intensive support policies for the road freight industry.。For example, Hubei Province recently issued《Implementation Plan of Reward and Subsidy Policy for Supporting the Development of Highway Freight Transport Industry》,A reward of up to 1 million yuan will be given to the enterprises with the highest turnover of highway goods in the province.。Chengdu recently issued《Ten Measures to Support the Development of Road Freight Transport Industry》,Provide cash incentives to eligible freight logistics enterprises and introduce relevant measures to reduce the fuel cost of trucks。

In addition,Steady national economic growth policy is expected to drive infrastructure and logistics recovery,Promote the recovery of heavy truck industry。CITIC Securities said,Under the background of greater downward pressure on domestic macroeconomic growth.,The central government and local governments at all levels have issued a number of policies to stabilize growth.,These policies will stimulate infrastructure.、Logistics and other ways have a positive impact on heavy truck demand.。

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