Sales of commercial vehicles soared to become stars in the automotive industry
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China's January sales of commercial vehicles increased 46%, of which sales of heavy trucks increased by 136.7%. Commercial vehicles became the stars of the auto industry Guojin Securities Li Mengqi Dong Yaguang According to the latest data from the China Association of Automobile Manufacturers, in January this year, China’s auto industry started well and the commercial vehicle industry The growth of the passenger car industry is even better. The total sales volume of commercial vehicle sub-sectors totaled 164,600 units, an increase of 46.44% year-on-year, of which, passenger car sales reached 29,900 units, an increase of 54.23% year-on-year; truck sales reached 124,200 units, an increase of 37.97% year-on-year; and semi-trailer tractors sold 11,400 units, up year-on-year. An increase of 218.94%.
Commercial vehicle sales increased 46% year-on-year
The specific statistics show that in January 2007, China’s auto industry sold a total of 717,100 vehicles of various types, an increase of 34.27% year-on-year. Among them, passenger car sales were 552,500, an increase of 31.03% year-on-year; commercial vehicle sales were 164,600, an increase of 46.44% year-on-year. Among the subdivided models, semi-trailer tractors are still the fastest growing segment, with a year-on-year growth of 218.94%, while commercial vehicle sales growth exceeds the industry average.
We believe that even considering the differences in the timing of the Spring Festival effect in 2006 and 2007, the above growth levels are extraordinary. This level of growth is the demand for overdrafts in the second quarter? Or is the industry performance continuing to exceed expectations? It is difficult to make a conclusive statement on this. We will review the outlook of the entire automobile industry, especially the commercial vehicle industry, after the sales data is announced in March.
Heavy truck becomes the star of growth In the commercial vehicle fine molecular industry, the highest increase in sales volume is in heavy trucks, which is an increase of 136.7% year-on-year. Except for the increase of light trucks and medium-sized passenger vehicles that is lower than the average level of the automotive industry, the rest of the sub-sectors have maintained a high level of growth.
According to statistics from the Auto Group, large and medium-sized buses sold 10,200 vehicles in January this year, an increase of 51.17% year-on-year, far higher than the first month of any year since 2002. Even considering the Spring Festival effect, the start of the bus industry in 2007 is also An unprecedented new high.
As in the passenger car industry, heavy trucks hit a record high since 2000 in the first month of 2007. The total sales of complete vehicles + chassis + semi-trailers totaled 27,600 units, a year-on-year increase of 136.7%. This is the largest increase in the commercial vehicle market. Among them, the high growth rate of semitrailer tractors is in line with our expectations. If heavy truck chassis sales were not affected by the fall in fixed asset investment growth in 2007, the growth of the heavy truck industry will greatly exceed our expectations. (We previously forecast growth in chassis sales.) Will fall back to 10%).
Still optimistic about the Steyr "troika"
Specifically for individual companies, in January 2007, the total sales volume of Sinotruk heavy trucks was 3,294 units, temporarily ranking first in the industry, but its growth rate was lower than the industry average and the sales volume of Foton, FAW, Shaanxi Auto, and several small companies was relatively lower. Well, Dongfeng Motor's market share decreased by 7 percentage points compared with the end of 2006. In 2007, the three Steyr family companies Sinotruk, Shaanxi Heavy Duty Truck and Beiqi Foton are likely to cross Dongfeng Motor to form a close relationship with FAW. We maintain our view in 2006: Regardless of how the competitive landscape evolved, the Steyr family is the biggest beneficiary of the industry. (Securities Times)