第一商用车网·2025-06-04 14:55Core Viewpoint - The heavy truck industry in China experienced significant growth in May 2025, with wholesale sales, domestic terminal sales, electric heavy trucks, and diesel heavy trucks all showing year-on-year increases, indicating a positive trend in the market [1][3][23]. Group 1: Market Performance - In May 2025, approximately 85,000 heavy trucks were sold in China, representing a 9% increase compared to the same month last year, despite a slight month-on-month decrease of 3% [3][5]. - Cumulatively, from January to May 2025, the heavy truck market recorded sales of about 437,500 units, showing a small year-on-year increase of approximately 1% [5]. - The "old-for-new" policy for National IV trucks has significantly stimulated new truck purchases, contributing to the growth in sales [6]. Group 2: Segment Analysis - The export wholesale volume of heavy trucks is expected to decline by over 10% in May, indicating ongoing pressure in the export market [7]. - Domestic terminal heavy truck sales are projected to have increased by over 20% year-on-year in May, despite a slight month-on-month decrease of around 5% [7]. - Sales of natural gas trucks fell to below 15,000 units, marking a new low in four months, with a year-on-year decline expected to exceed 30% [8]. - New energy heavy trucks are anticipated to have sold over 15,000 units in May, reflecting a year-on-year growth of approximately 190%, with a market penetration rate exceeding 23% [8][11]. Group 3: Company Performance - China National Heavy Duty Truck Group (CNHTC) led the market with sales of approximately 23,000 heavy trucks in May, a 13% year-on-year increase [12][15]. - Dongfeng Motor Corporation sold about 15,000 heavy trucks in May, achieving a year-on-year growth of 49% [15][17]. - FAW Jiefang sold around 14,000 heavy trucks in May, with a cumulative sales figure of approximately 81,500 units from January to May, maintaining a market share of about 18.6% [15][19]. - Beiqi Foton and XCMG showed the highest growth rates among major companies, with Foton's sales increasing by 73% year-on-year in May [17][19]. Group 4: Future Outlook - The heavy truck market is expected to continue its growth trend in June, driven by the acceleration of old vehicle scrapping and replacement policies [23]. - The decline in natural gas truck sales is anticipated to narrow to single digits in June, creating conditions for a rebound in the second half of the year [23]. - The sales of electric heavy trucks are expected to reach new highs in the latter half of the year, supported by various favorable policies [23].