Core Viewpoint - The commercial vehicle market in China experienced fluctuations in sales throughout 2025, with July marking a significant increase in year-on-year sales, indicating a competitive landscape among manufacturers [1][26]. Sales Performance - In July 2025, the commercial vehicle market sold 306,000 units, representing a month-on-month decrease of 17% but a year-on-year increase of 14%, marking the first consecutive monthly increase of the year [3][26]. - The cumulative sales from January to July 2025 reached 2.4277 million units, showing a year-on-year growth of 4%, with an increase of over 90,000 units compared to the same period last year [7][17]. Historical Context - The sales trend for July over the past five years has shown a pattern of fluctuations, with July 2025's sales being the second highest in this period, only behind July 2021 [5][26]. - The cumulative sales for the first seven months of 2025 are considered normal, ranking second in the last five years, but still falling short by nearly 800,000 units compared to the highest sales in 2021 [7][17]. Market Share and Rankings - In July 2025, the top ten manufacturers collectively held a market share of 76.09%, with the top five alone accounting for over 50% [14][22]. - Foton led the sales with 45,500 units, followed by China National Heavy Duty Truck Group and Dongfeng, with sales of 31,100 and 30,000 units respectively [9][11]. Competitive Landscape - The competition among manufacturers remains intense, with small differences in market share among neighboring companies, indicating potential for shifts in rankings [26]. - Notably, Foton and China National Heavy Duty Truck Group saw significant increases in market share, with Foton's share rising to 15.21% and China National Heavy Duty Truck Group's to 10.03% [22][23]. Future Outlook - The commercial vehicle market is expected to continue its competitive dynamics, with close monitoring of sales performance and market share shifts among key players [26].

Core Viewpoint - In May 2025, the heavy truck market achieved a total sales volume of approximately 88,700 units, reflecting a year-on-year growth of 14%. However, the tractor market, a significant segment of the heavy truck market, showed only a slight increase of 0.2% year-on-year, continuing to lag behind the overall market performance for three consecutive months [1][4][26]. Market Performance - The tractor market sold 43,500 units in May 2025, marking a month-on-month increase of 2% and a year-on-year increase of 0.2%. This is a recovery from a previous decline of 6% in April [3][4][10]. - Cumulatively, from January to May 2025, the tractor market recorded total sales of 221,300 units, which is a slight decrease of 3% compared to the same period last year [8][18]. Historical Trends - Over the past five years, the tractor market has exhibited a pattern of decline followed by growth in May sales. The sales volume in May 2025 ranks as the second highest in the last five years, but it is still significantly lower than the peak sales of 82,500 units in May 2021 [6][8]. Company Performance - In May 2025, China National Heavy Duty Truck Corporation (重汽) led the tractor market with sales of 11,800 units, capturing a market share of 27.14%. Other notable performers included FAW Jiefang (一汽解放) with 8,416 units and Shaanxi Automobile Group (陕汽集团) with 7,966 units [10][12]. - Among the top ten companies in the tractor market, nine experienced year-on-year sales growth, while only one company saw a decline of 26% [10][15]. Market Share Dynamics - The top ten companies in the tractor market accounted for 99.28% of total sales in May 2025, with the top five companies alone holding nearly 90% of the market share [15][23]. - The market share of the leading companies has shifted slightly, with notable increases for companies like Xugong (徐工) and Farizon (远程), which saw year-on-year growth of 178% and 121%, respectively [20][23]. Future Outlook - The heavy truck market is expected to continue evolving, with the tractor market's performance in June 2025 being closely monitored to see if it can outperform the overall heavy truck market [26].

Core Viewpoint - The commercial vehicle market in China experienced fluctuations in sales, with a total of 1.75 million units sold from January to May 2025, reflecting a year-on-year growth of 1% [20][21][29]. Group 1: Market Performance - In May 2025, the commercial vehicle market sold 334,600 units, representing a month-on-month decrease of 9% and a year-on-year decrease of 2% [4][5][12]. - The cumulative sales from January to May 2025 reached 1.75 million units, which is the second highest in the last five years, with a year-on-year increase of 1% [9][21]. - The sales trend over the past five years in May has shown a pattern of decline, with only 2023 and 2024 witnessing growth [7]. Group 2: Company Rankings and Performance - Foton maintained its position as the top seller in May 2025 with sales of 49,000 units, marking its fifth consecutive month as the sales champion [11][12]. - In May, 11 companies sold over 10,000 units, with Foton, China National Heavy Duty Truck, and Dongfeng leading the rankings [12][18]. - The market share of the top ten companies in May reached 74.52%, with the top five companies accounting for nearly 50% of the market [17][18]. Group 3: Cumulative Sales and Market Share - The cumulative sales of the top ten companies from January to May 2025 showed mixed results, with five companies experiencing growth and five facing declines [25][27]. - Foton's cumulative sales exceeded 250,000 units, while other major players like China National Heavy Duty Truck and Dongfeng also surpassed 100,000 units [23][25]. - The market share of Foton and China National Heavy Duty Truck increased, with Foton's share rising by 1.11 percentage points compared to the previous year [27]. Group 4: Industry Dynamics - The commercial vehicle market in May 2025 continued to exhibit intense competition, with small differences in market shares among neighboring companies [29]. - The rankings of companies in the top ten list showed some changes, with Shaanxi Automobile returning to the list and Jianghuai rising three places [18][29].