After a two-year slump in production and sales, and a declining market share, the E-man truck has finally ushered in a new spring.
From January to May this year, the province produced a total of 131,000 trucks, an increase of 52.8% over the same period of last year. At the same time, truck sales are booming. “After the adjustments in recent years, the truck industry in our province has already reached a low point, showing a recovery growth trend, and may usher in a cyclical inflection point.†An industry insider is gratified to sigh.
E truck load climbing
In the industrial economic structure of our province, the automobile industry is the largest pillar industry and its sales revenue accounted for 14.9% of the above-scale industries. Among them, as a traditional model and superior product, the truck has an outstanding performance with industry scale and market share ranking first in the country.
However, in the tide of the market, we will retreat if we do not advance. From 2004 to 2006, with the rapid expansion of truck capacity throughout the country and unprecedented increase in competitive pressure, the truck industry in our province fell into a sluggish state, with annual output declining to 20.90 million units, 191,800 units and 188,400 units respectively, compared with the previous year. In comparison, the growth rates were 9.6%, -8.3% and -1.2% respectively.
Although, during this period, the production of cars in the province has maintained a rapid growth, but due to the fact that the truck industry, which accounts for a large proportion in the automotive industry, has “failedâ€, the development speed of the entire automobile industry in our province has fallen below the national average.
A huge drop reminds people to wake up. In the past two years, truck manufacturers with Dongfeng Commercial Vehicle Co., Ltd. as the leading company in the province have kept a close eye on market demand, focused on adjusting product mix, accelerating technological innovation, and working hard to open up the market.
Adjustments are effective in production and sales
Last year, Dongfeng Motor Co., Ltd. invested more than 2 billion yuan to build the new "Dragon" heavy truck to the market. This is an important move taken by the company to seize the opportunity for commercial vehicles to develop into large-capacity and heavy-duty vehicles, accelerate the adjustment of product structure, and vigorously develop new series of high-end heavy-duty trucks.
However, what people did not expect was that in the initial stage of the launch of “Dragonâ€, the market did not buy it because the configuration and price were inconsistent with the needs of the domestic market. Based on this, Dongfeng Company quickly adjusted. Since the beginning of this year, the production and sales of “Tianlong†heavy trucks have been fully implemented. The output has increased month by month. After surpassing 1,300 in March, it exceeded 1,500 in April. Market sales have also improved significantly. In the first four months, a total of 3,721 vehicles have been sold, of which 1,361 units were sold in March, creating a record that sales of new products by domestic heavy truck companies exceeded one thousand units in a single month within one year.
With the successful listing of Tianlong heavy trucks, Dongfeng Commercial Vehicle Co., Ltd. basically completed the strategic adjustment of its product structure from medium-sized to heavy-duty. At the same time, adjustments made by other truck manufacturers in the province have also achieved initial success and have emerged in both production and sales.
In the first four months of this year, Dongfeng Company (Shiyan District) produced a total of 46,000 trucks, an increase of 21.3% year-on-year; sales of trucks exceeded 40,000, a net increase of 7,368 vehicles over the same period of last year. Sanhuan Special Purpose Vehicle Co., Ltd. produced 4,988 special vehicles, an increase of 69%, and sold 4,477 vehicles, a net increase of 1,904 vehicles over the same period of last year. The production and sales of trucks of Dongfang shares Xiangfan and Dongfengchuang also increased significantly.
The production and sales of trucks in Hubei Province suddenly rebounded, reversing the decline in the past two years or even negative growth.
Sustained growth still needs to work
With the dual factors of continued steady growth in car production and the gradual recovery of truck production and sales, the production of automobile industry in our province has maintained rapid growth.
In the first four months of this year, the province's cumulative production of 261,800 vehicles, an increase of 33.4%, 12.04 percentage points faster than the national average growth rate (21.36%). The industry achieved a production value of 48.287 billion yuan, an increase of 23.64%.
From the perspective of Dongfeng Commercial Vehicles, the leading company, plans to produce 7,800 trucks in April, and the actual output will reach 13,600, which is 5,799 more than the planned output, which is an increase of 28.3% over the same period of last year. In May, it plans to produce 5,650 heavy vehicles, an increase of 1.12 times over the same period of last year. With the improvement of product structure and market recognition, it is expected that the province's truck production will resume growth this year.
Although the current production and sales of trucks have begun to pick up, the problem of increased inventory and decline in the sales ratio of some automakers is of concern. Therefore, experts from the provincial Economic Commission reminded that while the rapid growth of production, companies should focus on market development and product sales.
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