FOTON(SH:600166) 第一商用车网·2025-09-20 13:05Core Viewpoint - The truck market in China is experiencing growth, with commercial vehicle sales increasing by 16% year-on-year in August 2025, and the truck market specifically growing by 17%, indicating a robust performance in the sector [2][4]. Sales Performance - In August 2025, the total truck sales reached 271,600 units, reflecting a month-on-month increase of 3% and a year-on-year growth of 17% [4][7]. - The light truck market, which includes light-duty trucks, small trucks, and pickups, sold 140,400 units in August, marking a month-on-month increase of 2% and a year-on-year increase of 6%, achieving a "seven consecutive months of growth" [5][25]. Market Segmentation - Among the four segments of the truck market, three experienced growth while one declined. The heavy truck market saw a significant year-on-year increase of 47%, while the light truck and micro truck markets grew by 6% and 15%, respectively. The medium truck market, however, declined by 9% [7][12]. - Cumulatively, from January to August 2025, the overall truck market sales increased by 5%, with the light truck market growing by 6%, outperforming the overall truck market [7][12]. Historical Context - Historically, August is considered a sales off-peak month for the truck market. The sales figure of 140,400 units in August 2025 ranks third in the last ten years, indicating a solid performance despite being below the peak of 2020 [10][12]. - The cumulative sales of light trucks from January to August 2025 reached 1.3139 million units, also ranking third in the last decade, and falling within the normal range of 1.2 to 1.4 million units for this period [12][20]. Company Performance - In August 2025, the top five companies in the light truck market sold over 10,000 units each, with Foton leading at 33,800 units, followed by Changan, Great Wall, Jianghuai, and Dongfeng [14][15]. - The market share of the top ten companies accounted for 87.35% of the total light truck sales, with the top five companies alone holding over 60% [15][18]. Year-on-Year Growth - Among the top ten companies, six reported year-on-year sales growth in August, with notable increases from Changan (27%), Dongfeng (12%), and others [18][22]. - Cumulatively, from January to August 2025, Foton maintained the highest sales at 292,000 units, with a market share of 22.23%, while several other companies also exceeded 100,000 units in sales [20][22]. Market Dynamics - The light truck market is witnessing a competitive landscape, with companies like Foton, Remote, and BYD showing significant growth rates, particularly Remote and BYD with increases of 74% and 669%, respectively [22][23]. - The market dynamics indicate shifts in rankings, with Jianghuai and Great Wall moving up in the standings compared to the previous year [23].