The export of China heavy truck on 2023

China's heavy truck exports performed strongly in 2023. From January to August 2023, China's total exports of heavy trucks reached 181,000 vehicles, representing a year-on-year increase of 187%. In August alone, heavy truck exports exceeded 24,000 vehicles, up more than 52% year-on-year. These figures demonstrate the high cost-effectiveness advantage and strong industrial chain competitiveness of Chinese heavy trucks in the global market.
It is analyzed that Russia has become the first major market for China's heavy truck exports, mainly due to the impact of the Russia-Ukraine situation. In addition, Chinese heavy truck enterprises, such as China National Heavy Duty Truck Group Corporation (CNHTC), are maintaining a healthy and upward trend in overseas market development, which not only helps to enhance their international competitiveness but also brings new development opportunities for China's heavy truck industry.
In terms of market structure, although demand for diesel vehicles remains low, gas-powered heavy trucks are in high demand among users, with significant increases in sales and penetration rates. Even a large-scale replacement of "oil truck" by "CNG truck" has occurred.
Overall, China's heavy truck exports are showing a sustained growth trend, and it is expected that this trend will continue in the future.