SINOTRUK Heavy-duty Truck Sales Jumped up to the Second Place in 2021

CHINA, Jan. 4 (chinatrucks.com) -- On December 30, CNHTC announced at its 2022 Cloud Business Conference that it has jumped up to the second place across the industry in 2021, with 20.5% market share, up by 3 percentage points on a year-on-year basis.

In 2021, the company’s heavy-duty truck sales rose by nearly 3 percent year-on-year, with a market share of 20.5%; tractor sales increased by 130%, resulting in market share increasing 9% year-on-year; cargo truck sales grew 313%, with its market share moving up 7 percentage points from the previous year; light-duty truck sales increased by 28%, with its share rose by 1 percentage point. The number of heavy-duty vehicle exported by CNHTC accounted for more than 50% of China's total exports, with its sales exceeding 50,000 units in 2021, making it the largest global single-brand company in terms of export volume.

According to industry sources, an estimated total of 1-1.1 million units heavy-duty trucks are expected to be sold in the coming 2022. This figure is few relative to the sales of 1.4 million units in 2021. In response to the limited overall market capacity, CNHTC has chosen to improve its product competitiveness with technological innovation.

Tan Xuguang,Chairman and CEO of CNHTC, revealed at the business conference that CNHTC will achieve leadership in heavy-duty truck segment within 2 years, gain competitive advantage over its rivals by offering a full range of commercial vehicles, and take the lead in reaching the world-class level in heavy-duty segment; within 5 years, the company will become one of the world's top commercial vehicle brands.

In response to new energy revolution, CNHTC has made powertrain a key direction for the future research. On the one hand, CNHTC proposed to develope a traditional powertrain that integrates diesel engine product with a thermal efficiency up to 50%, AMT and drive axle to achieve the goal of near-zero carbon emission and maintain the global leadership; a hybrid powertrain that fully complies with the stage IV fuel consumption regulations and takes the lead in achieving breakthroughs in the fields of trunk logistics tractors, national highway transport carriers and engineering vehicles. On the other hand, CNHTC also proposed to develop a new energy power system that fully combines the core technologies such as fuel cell system, drive motor and controller, and electric drive bridge, and takes the lead in gaining global competitive advantages in the field of commercial vehicles.

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