China Heavy Duty Truck: Export business hit a new record high

date:2024-11-06

China Heavy Duty Truck: Export business hit a new record high

Recently, China Heavy Duty Truck released its performance report for 2023. According to the report, China Heavy Duty Truck achieved an operating income of 85.5 billion yuan in 2023, a year-on-year increase of 44%; The net profit of returning to the mother reached 5.32 billion yuan, a year-on-year increase of 218%. According to the data, the sales volume of heavy truck in China reached 234,200 vehicles, up 47.47% year-on-year, and the market share reached 25.71%. China Heavy Duty Truck's export business has become the key to success. In 2023, the export sales volume of China Heavy Duty Truck reached 130,100 vehicles, up 47% year-on-year, setting a new record. The export growth rate of more than 45% for three consecutive years highlights the breakthrough of China Heavy Duty Truck in overseas markets. Compared with the sales growth, the product structure of China Heavy Duty Truck Export has also been improved qualitatively. According to the data, among the heavy trucks exported by China Heavy Duty Truck in 2023, high-end products accounted for 45.4%. This proportion was only 8.5% in 2021 and increased to 22.2% in 2022. Behind the doubling of the proportion of high-end products for two consecutive years, China Heavy Duty Truck has established greater influence in the global market through its product strength, brand strength and service strength. The product strength of China Heavy Duty Truck benefits from its leading technology research and development strength. The company has an industry-leading scientific research base and actively promotes breakthroughs in core technologies such as body, power system, transmission system, electronic control system and vehicle matching. In 2023, China Heavy Duty Truck achieved a number of new breakthroughs in key technologies through product optimization and upgrading. With its strong product strength and local sales strategy, the company has made breakthroughs in the dominant markets of European and American brands such as Mexico, Saudi Arabia and Australia. At the same time, China Heavy Duty Truck also introduced more competitive new products, such as Howe T7S, TX, MAX, etc., which further improved the product series and configuration. Service power has always been the traditional advantage of China Heavy Duty Truck. In 2023, the company further strengthened its network marketing management, and continued to expand its market share by deepening marketing reform and strengthening service marketing. By the end of 2023, China Heavy Duty Truck had established more than 200 marketing networks in more than 110 countries and regions, and also carried out KD production in 26 overseas cooperative factories. Brand building has also become the key work of China Heavy Duty Truck this year. In 2023, the company continuously enhanced the brand's international influence, and held several global partner conferences in Central Asia, the Middle East, Southeast Asia and other places, effectively enhancing the brand influence and corporate image. It is understood that the heavy truck brand of China Heavy Duty Truck ranks among the best in Southeast Asia, Australia, Africa and other countries. In 2023, China Heavy Duty Truck became the leading enterprise in global export sales of single brand of heavy trucks, marking its important position on the world stage. China Heavy Duty Truck is full of confidence in its export business in 2024. The company said that it will continue to deepen overseas markets and promote brand internationalization. The company will speed up the upgrading and adjustment of overseas product structure, fill the shortcomings of products in market segments, and fully expand the high-end market dominated by European and American brands. At the same time, through localized operation, strengthen service ability and brand building, and build the high-end image of overseas brands. At the beginning of 2024, China Heavy Duty Truck used data to prove the success of its strategy. In January and February this year, the export sales of China Heavy Duty Truck reached 13,000 vehicles and 14,000 vehicles respectively, which set a new record for the export of heavy trucks in China. The market is generally optimistic about the development prospect of China Heavy Duty Truck in the international market. Guotai Junan believes that in 2024, the road to the sea for domestic independent brands of heavy trucks will continue, and the sales volume in the export market will continue to maintain strong growth.