可以看到，今年4-9月份重卡批发销量与国内终端销量的表现基本是同步的，月销量同比增幅呈现出明显的加速度。 2015-2025年我国重卡行业销量年度走势图（单位：万辆） 智通财经APP获悉，10月8日，第一商用车网发文称，在淡季不淡、同比大增的7、8月份过后，重卡行业迎来了"金九"。根据第一商用车网初步掌握的数 据，2025年9月份，我国重卡市场共计销售10.5万辆左右（批发口径，包含出口和新能源），环比今年8月上涨15%，比上年同期的5.8万辆大幅增长约 82%。 截止到目前，重卡市场已经实现了六连涨——4月份销量同比增长6.5%，5月份同比增长13.6%，6月份同比增长37%，7月份销量同比增长46%，8月份销量 同比增长47%，9月份则同比上涨了82%，4-9月份近六个月的平均增速高达39%。 10.5万辆放在最近八年来看，属于第二高水平，只低于2020年9月的15.1万辆，比其他年份的9月份销量都要高，市场整体表现超预期。累计来看，今年1-9 月，我国重卡市场累计销量超过了80万辆——达到82.1万辆，同比增长约20%，全年销量超过100万辆毫无悬念，并且按照这个趋势来看的话，2025年的 重卡行业很有 ...

Core Viewpoint - The heavy truck market in China is experiencing significant growth, with sales expected to exceed 1 million units for the year, marking a return to pre-pandemic levels [1][3]. Group 1: Sales Performance - In August 2025, approximately 84,000 heavy trucks were sold in China, a slight decrease of 1% from July but a 35% increase year-on-year from 62,500 units [1]. - Cumulative sales from January to August 2025 reached nearly 710,000 units, indicating a year-on-year growth of about 13% [3]. - The monthly average sales needed to surpass 1 million units for the year is approximately 73,000 units over the next four months, which is deemed achievable based on current market conditions [1]. Group 2: Market Drivers - The significant year-on-year growth in August's sales is attributed to a nearly 50% increase in domestic terminal sales, driven by low base effects from the previous year and supportive government policies [3]. - The "old-for-new" vehicle replacement policy implemented across various provinces has provided a stable boost to the heavy truck market since mid-May [3]. Group 3: Export and Segment Performance - Heavy truck exports in August are expected to grow by around 10% year-on-year, reflecting a robust performance in this segment [5]. - The natural gas heavy truck segment has shown signs of recovery, with terminal demand increasing by over 30% year-on-year in August, aided by stable LNG prices and regional replacement policies [6]. - Electric heavy trucks have also seen explosive growth, with terminal sales exceeding 16,000 units in August, representing a year-on-year increase of over 160% [7].

Core Viewpoint - In June, heavy truck sales in China reached approximately 94,000 units, marking a year-on-year increase of 32%, significantly exceeding expectations [4][5][6]. Sales Performance - The heavy truck market in June 2025 saw sales of about 94,000 units, a 6% increase from May and a 32% increase from June 2024 [4][5]. - Cumulatively, from January to June 2025, the heavy truck market sold approximately 535,300 units, reflecting a year-on-year growth of about 6% [5]. Market Drivers - The primary reason for the significant sales increase in June, traditionally a "slow season," is attributed to the implementation of vehicle replacement policies across various regions, which have stimulated demand for new heavy trucks [6][26]. - Additionally, some leading manufacturers ramped up production to boost sales figures at the end of the half-year [7]. Segment Analysis - The domestic terminal heavy truck sales also experienced a year-on-year increase of nearly 40% in June, with a slight month-on-month rise of about 3% [7]. - New energy heavy trucks saw terminal sales surpassing 16,000 units in June, representing a year-on-year growth of approximately 130%, setting a new monthly sales record [9]. Company Performance - China National Heavy Duty Truck Corporation led the market with sales of about 23,000 units in June, achieving a year-on-year growth of 21% [13][15]. - Dongfeng Motor Corporation followed with sales of approximately 18,000 units, a year-on-year increase of 47% [17]. - FAW Jiefang and Shaanxi Automobile both exceeded 16,000 units in sales, with year-on-year growth rates of 42% and 22%, respectively [17][19]. - Foton Motor achieved the highest growth rate among major companies, with a 116% increase in June sales [21]. Future Outlook - The heavy truck industry is expected to continue its upward trend in sales, particularly in the third quarter, driven by ongoing vehicle replacement policies and the low sales figures from the previous year [26].

Core Viewpoint - The heavy truck market in China has experienced a "double increase" in sales for May 2025, indicating a positive trend amidst previous pessimism, driven by policies and market dynamics [1]. Group 1: Market Performance - In May 2025, approximately 83,000 heavy trucks were sold in China, representing a 6% year-on-year increase from 78,200 units in the same month last year, despite a slight month-on-month decline of 5% from April [5]. - Cumulatively, from January to May 2025, the heavy truck market recorded sales of about 435,500 units, reflecting a modest year-on-year growth of approximately 1% [5]. Group 2: Policy Impact - The "old-for-new" policy for National IV trucks has significantly stimulated the market, leading to a notable increase in both wholesale and terminal sales of heavy trucks in May [7]. - As of now, over half of the provinces and regions have implemented the "old-for-new" policy, which has positively influenced the demand for new heavy trucks [7]. Group 3: Segment Performance - The terminal sales of heavy trucks in May are expected to have increased by over 20% year-on-year, with a slight month-on-month decline of around 5% [10]. - Electric heavy trucks have seen a remarkable growth, with sales exceeding 15,000 units in May, marking a year-on-year increase of approximately 190%, and achieving a market penetration rate of over 23% [13][14]. - Diesel heavy trucks also experienced a significant increase in sales, with an estimated year-on-year growth of around 31% in May [16]. Group 4: Future Outlook - The heavy truck market is expected to maintain continuous growth in June, driven by the ongoing implementation of the "old-for-new" policies [18]. - The sales decline of natural gas heavy trucks is anticipated to narrow to single digits in June, creating favorable conditions for a rebound in the second half of the year [18].