In the first half of 2024, China's truck export sales have significantly increased, becoming an important growth point for China's automobile exports. It is understood that China's truck export market is extensive, covering multiple regions such as Asia, Africa, and Latin America. Among them, countries and regions such as Mexico, Vietnam, Russia, and Saudi Arabia are the main destinations for China's truck exports. These markets have shown a high demand for cost-effective Chinese truck products.

In terms of export vehicle models, there is a leading trend in light trucks, mainly due to the flexibility and high cost-effectiveness of Chinese made light truck products, which have been highly praised by overseas users. According to data, from January to June 2024, a total of 179000 light trucks were exported, a year-on-year increase of 19%, with a market share of over 50%.

Moreover, due to the increasing overseas recognition of Chinese brands, the demand for categories such as medium trucks, tractors, dump trucks, and construction vehicles is also constantly growing, resulting in a significant increase in export volume.

In terms of power types, the models exported and sold in China are still mainly traditional energy vehicles (gasoline and diesel). From January to June 2024, diesel truck exports accounted for over 70%. Although the export volume of new energy commercial vehicles is relatively small, their market potential cannot be ignored due to the impact of global electrification trends and the emphasis on environmental protection and sustainable development in various countries around the world.

From the perspective of global commercial vehicle sales patterns, Chinese trucks have a significant price advantage compared to top tier trucks worldwide; Compared to second - and third tier or regional small brand trucks, Chinese trucks are more robust and durable.

Due to relatively low production costs, domestic trucks are generally priced lower than imported trucks, making it easier for foreign truck users to accept. In addition, the lower maintenance costs of domestically produced trucks further enhance their market competitiveness.

Heavy trucks (including semi-trailer tractors, heavy-duty trucks, dump trucks, and specialized trucks). Heavy trucks are a very important segment in the commercial vehicle industry, but they do not win in terms of scale in market sales, but rather excel in technology and profitability.

There is an unwritten seniority standard in the commercial vehicle industry: only those who have heavy trucks can be called big brothers.

Since the beginning of this year, in line with the continued upward trend of China's automobile exports, China's commercial vehicle exports have continued to perform well, becoming a rare growth point in addition to the fierce stock competition in the domestic market.

According to data from the China Association of Automobile Manufacturers, the export of commercial vehicles reached 679000 units from January to September this year, a year-on-year increase of 23.6%. Among them, the proportion of heavy trucks reached 39.3%, about 266800 units, almost equivalent to the annual export sales of heavy trucks in 2023 (268000 units), greatly exceeding the annual export sales of heavy trucks in 2021 (210000 units).

From January to September this year, China National Heavy Duty Truck Group sold a total of 188969 heavy-duty trucks, with a market share of 27.7%, maintaining the "double first" in industry sales and market share.

In addition to being a leading player in China and leading other heavy truck brands to break through, China National Heavy Duty Truck Group's heavy truck export performance is even more impressive. According to data from the China Association of Automobile Manufacturers, China National Heavy Duty Truck Group's exports of heavy-duty trucks reached 68000 units from January to June this year, accounting for 41.2% of the industry's total exports and firmly ranking first in the industry.