According to the data of the China Automobile Association, from January to June 2024, China's cumulative export of trucks was 351,000 units, an increase of 6% year-on-year, setting a new high in the same period of nearly 7 years. This result is not only higher than the growth of the domestic truck market, but also higher than the year-on-year growth of the entire truck market.
It is not difficult to see that in recent years, China's truck export market has shown a strong growth trend, not only in the number of exports repeatedly hit a new high, but also in the international commercial vehicle market to show a strong competitiveness.
Light truck leading exports covering many places around the world
Where is China's main overseas export market at present? What are the kingpin models? Truck House combed through the information of all parties and analyzed as follows:
In the first half of 2024, China's truck export sales increased significantly, becoming an important growth point for China's automobile exports. It is understood that China's truck export market is extensive, covering Asia, Africa, Latin America and other regions. Among them, Mexico, Vietnam, Russia, Saudi Arabia and other countries and regions are the main destinations for Chinese truck exports. These markets show a high demand for cost-effective Chinese truck products.
In terms of export models, mainly showing a leading trend of light trucks, mainly because of the flexibility and cost-effective light truck products made in China have been praised by overseas users, data show that from January to June 2024, a total of 179,000 light trucks were exported, an increase of 19%, accounting for more than 50% of the market.
And because of the overseas visibility of Chinese brands, the demand for Chinese trucks, tractors, dump trucks, engineering vehicles and other categories is also growing, and the export volume has increased significantly.
In terms of power type, China's export sales models are still dominated by traditional energy vehicles (gasoline and diesel). From January to June 2024, diesel truck exports accounted for more than 70%. Although the export volume of new energy commercial vehicles is relatively small, with the impact of the global electrification trend, as well as the attention of countries around the world to environmental protection and sustainable development, its market potential can not be ignored.
The difference between domestic VS overseas is getting smaller and smaller
The analysis of the reasons behind the rise in China's truck export sales is mainly inseparable from four points, respectively: 1. Policy support; 2. Changes in overseas sales model; 3. The difference between domestic trucks and overseas brands is getting smaller and smaller; 4. Low price and high cost performance.
1. Policy support:
In recent years, the promotion of the "Belt and Road" initiative has greatly increased the demand for Chinese trucks in countries along the route, and the Chinese government has also given a series of policy support and preferential measures to automobile export projects. These policies and measures have reduced the export costs of enterprises and increased their enthusiasm for export.
2. Changes in overseas sales model:
The overseas sales model of China's truck companies is gradually changing. Before, we used a simple export trade model. At present, we have expanded the model into three categories: trade export, sea KD logistics model, direct investment factory model.
Moreover, many truck companies directly establish factories and mass production overseas, which can not only increase production and sales and reduce production and transportation costs, but also help to enhance the local brand influence.
3. The difference between domestic trucks and overseas brands is getting smaller and smaller:
With the development of technology, the gap between domestic trucks and imported trucks is gradually narrowing, the engine technology level, the engine technology of domestic trucks has made significant progress, performance and service life has also been greatly improved, and more attention is paid to humanization and intelligence in vehicle design and manufacturing.
Domestic trucks have made significant progress in engine technology, transmission systems, vehicle design and manufacturing, as well as intelligence and networking, and some advanced configurations have even surpassed joint ventures and foreign products of the same type. This has made Chinese trucks more competitive in the international market.
In terms of new energy commercial vehicles, Chinese enterprises in the battery technology, motor technology, vehicle technology, intelligent cabin and other technical levels, all belong to the global technology leadership, coupled with China's continuous exploration of new technology applications in the field of new energy vehicles, whether it is technological innovation and production capacity, or key technologies and products, China is in the forefront of the world.
4. Low price, high cost performance:
From the perspective of global commercial vehicle sales pattern, compared with the world's first-class trucks, Chinese trucks have obvious advantages in price; Compared with second - and third-tier or regional small brand trucks, Chinese trucks are more durable.
Due to the relatively low production cost, the price of domestic trucks is generally lower than that of imported trucks, which makes it easier for foreign truck users to accept. In addition, the lower maintenance cost of domestic trucks has further enhanced its market competitiveness.