Sinotruk: market share continues to improve the annual performance is expected to increase - SINOTRUK (HOWO) LIMITED
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Sinotruk: market share continues to improve the annual performance is expected to increase

Sinotruk sold more than 500,000 commercial vehicles in the whole year, and its market share of segment products continued to increase.

The data analysis

In December, the company’s heavy truck sales reached 36,600 units, up 75% year on year;
From January to December, Sinotruk sold about 300,000 heavy trucks, up 67 percent year on year, far outpacing the industry.

The company’s market share continued to improve, the annual cumulative market share increased by more than 2 percentage points.

From the point of view of subdivided products, the company’s tractor sales increased 136.0% year on year, mixing truck sales increased 128.1% year on year, natural gas vehicle sales increased 41.5% year on year, high-end heavy card Shantou card production and sales increased more than 700% year on year.

In addition, the company achieved annual sales volume of about 200,000 light trucks, with a year-on-year growth rate of more than 80%, much higher than that of the industry, with a significant increase in market share.

Sales in overseas markets declined but share increased, and high growth is expected next year.

Sinotruk is China’s first international heavy truck enterprises, heavy truck products are widely sold to Southeast Asia, Africa, Central Asia, the Middle East and other regions.

The company’s overseas heavy truck sales have been growing steadily in recent years, with a market share of more than 40%, ranking first in the industry.

Since this year, affected by global public health events, the company’s export sales in the first half of the year decreased by 30% compared with the same period last year.

Since the third quarter, the decline has narrowed, and the market share has increased to more than 50%.

For the full year, the company’s overseas heavy truck sales may fall by more than 20 percent.

With the gradual easing of the impact of overseas health events and the continued outbreak of pent-up demand, we believe the company’s overseas market is expected to see high growth next year.

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