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China Light Trucks: Development Status and Trends
NEWS & EVENTS

China Light Trucks: Development Status and Trends

  • Categories:BLOGS
  • Author:JMC
  • Time of issue:2022-09-14 11:40
  • Views:0

(Summary description)China's truck market is vast, and it is also the first market for China's automobile industry, making great contributions to China's development and construction. As an important product category, light trucks have become the preferred choice for the urban freight and logistics industry due to their lower prices and looser regulation while providing sufficient cargo volume. Learn about Chinese light trucks

China Light Trucks: Development Status and Trends

(Summary description)China's truck market is vast, and it is also the first market for China's automobile industry, making great contributions to China's development and construction. As an important product category, light trucks have become the preferred choice for the urban freight and logistics industry due to their lower prices and looser regulation while providing sufficient cargo volume. Learn about Chinese light trucks

  • Categories:BLOGS
  • Author:JMC
  • Time of issue:2022-09-14 11:40
  • Views:0
Information

China Light Truck

China's truck market is vast, and it is also the first market for China's automobile industry, making great contributions to China's development and construction. As an important product category, light trucks have become the preferred choice for the urban freight and logistics industry due to their lower prices and looser regulation while providing sufficient cargo volume. Learn about Chinese light trucks

 

  1. Development Status of Light Trucks in China

  2. Advantages of Chinese light trucks

  3. Major Chinese light truck manufacturers

  4. The main factors affecting the price of light trucks

  5. Impact of COVID-19 on Light Truck Market

  6. China light truck trends

 

Development Status of Light Trucks in China

 

China's truck market is vast, and it is also the first market for China's automobile industry, making great contributions to China's development and construction. As an important product category, light trucks have become the preferred choice for the urban freight and logistics industry due to their lower prices and looser regulation while providing sufficient cargo volume.

light truck definition

China's trucks are classified into micro trucks, light trucks, medium trucks and heavy trucks according to the total mass of the vehicle. Light trucks are trucks with a total mass greater than 1.8 tons and less than or equal to 6 tons.

Development status

The sales of light trucks have grown steadily in the past two years. As the country cancels the product category of low-speed trucks, and the rapid development of domestic e-commerce express logistics and cold chain transportation, the market demand for light trucks continues to increase. In 2019, the sales volume of light trucks in my country reached 1.9 million units, achieving continuous growth. However, due to the rapid expansion in recent years, the epidemic and the weakening of the domestic and foreign economies, the sales of light trucks this year have slowed down and declined, turning to stock competition.

 

Advantages of Chinese light trucks

 

Good adaptability to the environment

Light trucks have a wide range of applications, from farmland to construction sites, from mountainous areas to cities, and light trucks are highly adaptable. Chinese light truck manufacturers have designed their related products accordingly to cope with the complex usage environment.

High load capacity

In order to match the main function of light trucks: load capacity, Chinese light trucks have been designed accordingly. E.g

  • larger loading space
  • stronger material
  • Use the brakes and braking methods used by heavy trucks

A series of designs aim to better realize its commercial value.

More economic value

For many self-employed individuals, light trucks are enough to meet their needs compared to heavy trucks; at the same time, light trucks are cheaper, even high-end light trucks are cheaper than heavy trucks and subsequent costs. People generally have easier access to affordable light trucks.

 

Major Chinese light truck manufacturers

 

  • JMC Light Truck
  • Foton Motor
  • DFM Light Truck
  • Sinotruk
  • JAC light truck
  • Changan Automobile
  • FAW Jiefang
  • SAIC Yuejin
  • Jinbei Automobile
  • Qingling ISUZU

Read More: China Top 10 Light Truck Manufacturer 2022

 

The main factors affecting the price of light trucks

 

Raw material supply

There are many upstream raw materials in the automotive industry, mainly steel, aluminum, copper and other commodities and plastics, etc. Generally, the overall supply is relatively stable, and prices are greatly affected by energy costs. 2020-2022 Under the background of the new crown epidemic, many factories around the world will be shut down, and coal production will be suspended. The decline in the production capacity of bulk commodities such as iron and steel has led to tight overall supply and demand of bulk commodities, and prices have continued to rise, which has exerted great pressure on the profitability of the overall automobile industry and related companies from the cost side.

Market demand

Light trucks are mainly used to transport small and medium-sized goods. With the continuous development of my country's express delivery and logistics industry, the overall light truck sales demand will maintain a growth trend in the medium and long term. In 2021, the construction of the logistics system will be steadily advanced to adapt to changes in market logistics demand, and logistics supply services will remain Rapid growth supports the improvement of the resilience of the industrial chain and supply chain. However, the characteristics of light trucks and the rapid increase in market stock will lead to a decrease in demand and enter stock competition.

 

Impact of COVID-19 on Light Truck Market

 

The epidemic has instead stimulated the light truck industry to a certain extent. Since the outbreak, the commercial vehicle manufacturing industry, especially the sales of new trucks, has performed well. Whether it is material transportation, consumer logistics, and infrastructure construction, all kinds of construction vehicles and logistics vehicles are in a state of increasing sales. However, the growth in sales will coincide with a reduction in demand after the epidemic slows down.

 

 

China light truck trends

 

Lightweight

The weight standard has been upgraded, and the cost of using overloaded light trucks has increased. The upgrade of the weight standard has intensified efforts to rectify the chaos of "big ton and small standard" and "blue card light trucks", forcing vehicle manufacturers to upgrade the technology of "lightweight" light trucks. Overlay the background of stricter policies and the trend of lightweight. The primary task for the healthy and stable development of the light truck market is "weight reduction". Under the national limit of 4.5 tons of gross weight, car companies urgently need to apply lightweight technology, change product strategies, and launch timely new models. At the same time, the lightweight of light trucks further raises the threshold of the industry, which is beneficial to the concentration of the industry market.

Intelligent

With the advancement of the intelligentization trend of my country's automobile industry, coupled with the improvement of travel safety regulations, and the improvement of user experience and comfort requirements, the light truck industry is no exception to gradually promote the intelligentization trend. It is expected that with the continuous increase in the penetration rate of new energy vehicles, intelligent The trend of change will accelerate.

The commercial vehicle industry is showing the basic development trend of high-end, safety, networking, green and intelligent.

Sales fell

The market growth in 2022 and the next five years will be constrained and adversely affected by the low-carbon and environmentally friendly economy and the overdraft of the entire market; at the same time, the heavy burden of local government debt and the impact of new real estate financing regulations, the construction vehicle market demand may face growth slowdown. It is expected that in the next five years, the total commercial vehicle market will decline slightly on the basis of 2021, and trucks will show a downward trend, and will truly turn to the stock market competition.

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 GAN ICP 17001991-1  www.300.cn