Sinotruk's heavy-duty truck exports hit record monthly high
(chinadaily.com.cn)| Updated : 2022-11-01Print Print
Sinotruk exported its 10,000th heavy-duty truck at the Jinan Comprehensive Bonded Zone on Oct 31, signifying that the company has become China's first company to export 10,000 heavy-duty trucks in a single month.
Sinotruk has seen high-quality development since its strategic restructuring in 2018, Tan Xuguang, chairman of Sinotruk, said at the celebration ceremony.
Tan Xuguang, chairman of Sinotruk, delivers a keynote speech at the celebration ceremony on Oct 31. [Photo provided to chinadaily.com.cn]
The company's operating revenue from 2019 to 2021 totaled 456.2 billion yuan ($66.11 billion), up 56 percent from the previous three-year period, while its profits were valued at 21.9 billion yuan, up 110 percent from the previous three-year period.
Sinotruk, also known as China National Heavy Duty Truck Group, ranked first in sales in China's heavy-duty vehicle and commercial vehicle markets in the first half of 2022. The market share of the company's heavy-duty trucks increased from 16.5 percent to 23.3 percent in the first half of this year after its restructuring.
Sinotruk exports its 10,000th heavy truck in October at the Jinan Comprehensive Bonded Zone. [Photo provided to chinadaily.com.cn]
According to the China Association of Automobile Manufacturers, China's heavy-duty truck industry posted a declining overall sales volume due to the impact of the COVID-19 pandemic in the first three quarters of this year.
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-duty vehicle market. The company exported 76,000 heavy-duty trucks in the first 10 months of this year, up 54 percent year-on-year, which accounted for more than half of China's exports in the industry.
The annual export volume of Sinotruk's heavy trucks increased from 30,000 units in 2020 to 50,000 units in 2021, and is expected to exceed 100,000 units this year, Tan said.
Representatives of over 310 Sinotruk's heavy-duty truck dealers and customers take part in the celebration ceremony online on Oct 31. [Photo provided to chinadaily.com.cn]