Sinotruk anticipates strong sales growth in H2

(| Updated : 2022-07-21

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China National Heavy Duty Truck Group, also known as Sinotruk, is confidently promoting the growth of heavy vehicle sales in the second half of 2022.

In the first half of 2022, China's heavy truck industry posted a declining overall sales volume, according to the China Association of Automobile Manufacturers.

Sinotruk still holds the majority of the industry's market share and is showing a positive sales performance compared to the overall decline of the Chinese heavy vehicle market.

The company sold 88,700 heavy trucks in the first half of this year, increasing its domestic market share to 23.33 percent, up 5 percentage points from the same period last year and placing it first in China.

According to official data, China's heavy truck industry is gradually recovering. In the second half of 2022, the sector is expected to have strong sales growth due to government initiatives, infrastructure development, and logistical improvements.

Most of the heavy vehicle enterprises represented by Sinotruk have implemented or plan to implement an equity incentive, which will make profits an assessment. It is expected that the industry will gradually enter the development stage of benign competition, and the profitability of leading enterprises can be expected to rebound.