Core Insights - The 2025 China International Commercial Vehicle Show (CCVS) in Wuhan highlights the significant shift towards new energy and globalization in China's commercial vehicle industry [2][8] - The number of overseas attendees at the exhibition has significantly increased, indicating a growing international interest in China's commercial vehicle sector [8] Industry Performance - From January to September 2023, China's commercial vehicle sales reached 3.117 million units, a year-on-year increase of 7.8% [2] - New energy commercial vehicle sales during the same period reached 566,000 units, marking a 61.4% year-on-year growth, with a market penetration rate of 23.9% [2] - In September alone, sales of new energy commercial vehicles hit 95,000 units, achieving a market penetration rate of 33% [2] New Energy Trends - The exhibition showcased a new ecosystem for commercial vehicles, with a ratio of 2:1 between new energy and fuel vehicles among the displayed models [3] - Notable new energy products were presented by major manufacturers, including five pure electric models from FAW Jiefang and advanced technologies from Dongfeng Commercial Vehicles [4][5] - The cost of battery systems for new energy vehicles has decreased from 800 yuan per kilowatt to 500 yuan per kilowatt over the past five years, alleviating concerns about range anxiety [6] Globalization and Export Growth - China's commercial vehicle exports reached 748,000 units from January to September 2023, reflecting a year-on-year increase of 10.2%, with new energy vehicle exports growing by 150% to 64,000 units [8][9] - The expansion into overseas markets is expected to provide growth opportunities for Chinese commercial vehicle companies, helping to mitigate domestic market challenges [9]