commercial vehicle exports continue to grow
2025-01-22 08:52:52
Recently, Yutong Bus released its performance forecast for 2024, expecting to achieve a net profit attributable to the parent company of 3.82 billion yuan to 4.27 billion yuan, a year-on-year increase of 110% -135%.
The significant increase in the company's export sales has become an important factor in its performance improvement.
Against the backdrop of a sluggish domestic commercial vehicle market, exports have become the second growth curve for many commercial vehicle companies.
Foton Motor, Yutong Bus, China National Heavy Duty Truck Group, and others have been deeply cultivating overseas markets, while accelerating the transformation and upgrading of their overseas business models.
Outstanding export performance
Regarding the reasons for the expected increase in performance, Yutong Bus stated that in 2024, the company sold a total of 46918 buses, a year-on-year increase of 28.48%;
Among them, the export sales volume was 14000 units, a year-on-year increase of 37.73%, and the domestic sales volume was 32918 units, a year-on-year increase of 24.91%.
Driven by sales growth, the company's net profit attributable to the parent company achieved a year-on-year increase.
Yutong Bus stated that with the increasing competitiveness of Chinese bus products, the export sales of the bus industry continue to rise, and the company's export sales have achieved significant growth.
The reporter learned that Yutong Bus's overseas sales will reach a new high in 2024.
In 2024, Yutong Bus received over 2000 orders in Latin America, 600 buses entered Mongolia for the first time, 100 Yutong dual source trams were delivered in bulk to Kazakhstan, 274 Yutong buses were delivered in bulk to Mexico, 46 Yutong pure electric airport shuttle buses were exported to Spain, and bulk sales were achieved in markets such as Greece, Denmark, Norway, and the Philippines.
China National Heavy Duty Truck Group stated during institutional research that the company's production and sales in 2024 have maintained a growth trend compared to the same period in 2023, and overall are better than the industry level.
At the same time, the company's product exports continue to maintain a good trend, and its market share remains at the forefront of the domestic heavy-duty truck industry.
In 2024, China's commercial vehicle exports will maintain strong growth.
According to data from the China Association of Automobile Manufacturers, the production and sales of commercial vehicles in China reached 3.805 million and 3.873 million respectively in 2024, a year-on-year decrease of 5.8% and 3.9%.
Among them, 904000 commercial vehicles were exported, a year-on-year increase of 17.5%.
Thanks to technological innovation and other advantages, the export scale of commercial vehicles in China has rapidly expanded in recent years.
The market expects that by 2030, the export scale of commercial vehicles in China will reach 1.5 million units, accounting for 27% of the total sales volume.
In this context, Chinese commercial vehicle companies are accelerating their layout in the international market, jointly building overseas factories, mergers and acquisitions, and cooperating with partners to seize global market share. They are gradually transitioning from export trade to industrialization and localized operation.
