In December 2024, the overall sales volume of heavy-duty trucks of Shanxi Guoxin Energy Corporation reached a new high, with electric heavy-duty trucks sales increasing by 235% year-on-year.

The First Commercial Vehicle Network reported that in December 2024, the overall sales of heavy trucks from Shanxi Guoxin Energy Corporation reached a new record high of 15,200 units. As the most outstanding segment in the new energy heavy truck market in 2024, the performance of electric heavy trucks in December was still very impressive, with actual sales of 8,942 units, a year-on-year increase of 235%, breaking the record for highest monthly sales once again. In December, actual sales of 8,942 units increased by 235%, breaking the record for highest monthly sales again In December 2024, a total of 15,200 units of new energy heavy trucks were sold in the domestic market (note: the data in this article is based on the actual sales data from compulsory insurance and does not include exports and military vehicles, the same below). This represented a 51% increase from November, with a year-on-year increase of 146%. In December, pure electric heavy trucks (including battery-swapping and charging heavy trucks) sold 14,500 units, accounting for 95.57%, a slight increase from the previous month (94.18%). Among them, sales of charging heavy trucks reached 8,942 units, a 38% increase from the previous month and a 235% year-on-year increase, surpassing the growth rate of the previous month (+190%). In 2024 as a whole, the charging heavy truck market achieved a "12-month growth streak," with year-on-year growth rates exceeding 100% in all 12 months, averaging at 213% per month. In December, the 235% year-on-year growth of charging heavy trucks continued to outperform the overall new energy heavy truck market. This marked the 16th consecutive month that charging heavy trucks outperformed the overall new energy heavy truck market. In December, charging heavy trucks accounted for 61.56% of pure electric heavy truck sales, a decrease from the previous month (68.52%). According to the observations of the First Commercial Vehicle Network, the proportion of charging heavy trucks in the sales of pure electric heavy trucks has shown a clear upward trend since 2023, which continued into 2024. By the end of 2024, charging heavy trucks accounted for 62.76% of the sales of pure electric heavy trucks for the whole year, an increase of over 11 percentage points compared to 2023 (51.56%) and a significant increase of nearly 18 percentage points compared to 2022 (45.16%). Looking at the trend of monthly sales of charging heavy trucks from 2020 to 2024, it can be seen that prior to 2024, monthly sales of charging heavy trucks had never exceeded 3,000 units. However, in 2024, there were 7 months with sales exceeding 3,000 units, with 6 months exceeding 4,000 units (June, September, and October), sales surpassing 6,000 units in November, and reaching nearly 9,000 units in December, setting a new high for monthly sales. It is worth noting that after June 2024, the cumulative sales of charging heavy trucks exceeded the total sales for the whole year of 2023. By the end of 2024, a total of 48,400 charging heavy trucks had been sold, roughly 3.1 times the total sales of 2023. In terms of specific vehicle types, the charging heavy trucks that were introduced in 2024 were mainly tractor trucks, dump trucks, and concrete mixers, reaching 30,100, 7,647, and 6,294 units respectively, accounting for 62.26%, 15.81%, and 13.01%. Additionally, street washing trucks, cleaning trucks, and other sanitation vehicles were also important segments for charging heavy trucks, accounting for a total of 8.51%. Throughout 2024, new energy heavy trucks were registered in all 31 provinces (cities, regions) in China, and charging heavy trucks entered all 31 provinces (cities, regions). Specifically, due to the promotion of pure electric sanitation vehicles (with charging models as the main force) nationwide, by the end of 2024, a total of 295 cities had registered charging heavy trucks in China (and 256 cities had registered battery-swapping heavy trucks), with 91 cities registering over a hundred units. Cities with registrations exceeding 1,000 units include Shenzhen, Changsha, Shijiazhuang, Chengdu, Shanghai, Zhengzhou, Changzhi, Handan, Tangshan, Xuzhou, Tianjin, and Xi'an. Sany tops the monthly list with over 2,000 units, Jiefang sees significant increase in market share for the whole year In December 2024, the actual sales of charging heavy trucks reached 8,942 units, a 235% increase compared to the same month the previous year, with mainstream enterprises maintaining high levels of performance. Among them, Sany led the monthly ranking with 2,507 units of sales, while XCMG and Jiefang ranked 2nd and 3rd, both with sales exceeding 1,000 units, reaching 1,517 and 1,191 units respectively. Dongfeng, Shaanxi Automobile, and FAW ranked 4th to 6th with 882, 643, and 624 units respectively. Yutong and Foton also had sales exceeding 300 units, reaching 476 and 311 units respectively, ranking 7th and 8th on the monthly list. Youngman and JAC ranked 9th and 10th with 276 and 213 units respectively, and the differences between neighboring enterprises were not significant. As shown in the chart above, compared to the same period the previous year, in December 2024, the top ten enterprises in charging heavy truck sales saw 9 increases and 1 decrease, with most enterprises doubling their sales and at least doubling by 2. Sany, Jiefang, Dongfeng, Shaanxi Automobile, Foton, and JAC all saw increases of at least three times, with Foton and JAC increasing by 1381% and 21,200% respectively, reaching explosive levels of growth. For the whole year of 2024, a total of 48,400 charging heavy trucks were sold in China, a 209% increase compared to the previous year, which was 5 percentage points higher than the increase after November (+204%), continuing to significantly outperform the overall growth of the new energy heavy truck market in 2024 (+140%), as well as the cumulative growth of pure electric heavy trucks (+154%). Charging Heavy Truck Enterprise Sales in January-December 2024 (unit: units) As shown in the table above, in 2024, most enterprises saw growth in charging heavy truck sales compared to the previous year, with 10 out of the top 12 enterprises achieving double-digit growth. Sany, Jiefang, FAW, Shaanqi, Foton, Unifinished Heavy Truck, and JAC saw increases of 220%, 662%, 402%, 322%, 441%, 528%, and 1906% respectively, surpassing the overall growth of the charging heavy truck market of 209%, outperforming the charging heavy truck market. The "big picture"; XCMG, Yutong, and Dongfeng also saw significant increases of 191%, 121%, and 126% respectively, while Youngman achieved double-digit growth. In terms of market share, in 2024, the charging heavy truck market saw 3 companies with a significant market share. (Continued in next message)More than 10%, with the top-ranking Sany accumulated sales of electric heavy-duty trucks reaching 12,200 units, with a market share of 25.14%, Sany also became the first enterprise to sell over 10,000 electric heavy-duty trucks annually; Xugong ranked second, with accumulated sales of 7,154 electric heavy-duty trucks in 2024, and a market share of 14.79%; Jiefang ranked third with accumulated sales of 6,021 vehicles, reaching a market share of 12.45%, a significant increase of 7.4 percentage points from 2023; Yutong, FAW, and Dongfeng ranked fourth to sixth with sales exceeding 4,000 units each, reaching 4,711 units, 4,349 units, and 4,057 units respectively, with market shares of 9.74%, 8.99%, and 8.39%, respectively. FAW's market share increased by 3.45 percentage points compared to 2023; Shaanxi and Foton, ranking seventh and eighth, sold over 2,000 units in 2024, with market shares of 6.90% and 5.65%, respectively. Both Shaanxi and Foton saw an increase in market share compared to 2023; Yuchai, ranking ninth, sold 1,640 units, with a market share of 3.39%, while other companies sold less than 500 units each, with market shares below 1%.Tractor sales increased by 340%, dump trucks by 201%, Sany tops sales According to data from the First Commercial Vehicle Network, in 2024, a total of 48,400 electric heavy-duty trucks were sold in the market, with tractors and dump trucks accounting for 62.26% and 15.81% respectively. Compared to the previous year, the proportion of tractors has increased while the proportion of dump trucks has decreased (in 2023, electric tractors and dump trucks accounted for 43.75% and 16.27% of total sales of electric heavy-duty trucks). As the most important segment of electric heavy-duty trucks, electric tractors saw a significant increase in sales in 2024, reaching a total of 30,100 units, a 340% year-on-year increase. This growth rate far exceeds the overall market growth rate (+209%) and the 195% growth rate of the new energy tractor market, surpassing the 140% growth rate of the new energy heavy-duty truck market as well. In 2024, Sany Heavy Truck ranked first in sales with a total of 7,890 electric tractors sold, capturing a market share of 26.21%. XCMG and FAW ranked second and third with 4,814 and 4,746 units sold respectively, with market shares of 15.99% and 15.76%. The difference in sales between the two companies was very small, with only 68 units separating them. FAW and Yutong, ranking fourth and fifth, both sold more than 2,000 units, reaching 2,372 and 2,354 units respectively, with market shares of 7.88% and 7.82%. Foton, Shaanqi, and Dongfeng ranked sixth to eighth in sales of electric tractors, with sales of 1,841, 1,837, and 1,835 units respectively, and market shares of 6.11%, 6.10%, and 6.09%. The difference between these three companies was very small, all within single digits. Yugong and BeiBen ranked ninth and tenth with 888 and 425 units sold, and market shares of 2.95% and 1.41% respectively. In comparison to electric tractors which outperformed various "big players," electric dump trucks, another important segment of electric heavy-duty trucks, did not perform as well. In 2024, a total of 7,647 electric dump trucks were sold, with a 201% year-on-year increase, lower than the overall market growth rate of 209%. However, this growth rate was higher than that of the new energy dump truck market (+98%) and the new energy heavy-duty truck market overall. In 2024, only 18 companies achieved sales in the electric dump truck market, with only 9 companies selling more than one hundred units. Sany ranked first with sales exceeding 2,000 units, reaching 2,027 units, capturing a market share of 26.51%. FAW, XCMG, and Yutong ranked second to fourth, with sales exceeding 1,000 units each, reaching 1,483, 1,076, and 1,052 units respectively, with market shares of 19.39%, 14.07%, and 13.76%. FAW, Foton, Shaanqi, Dongfeng, and Yugong also sold more than 200 units, ranking fifth to ninth with market shares of 6.42%, 4.16%, 4.00%, 3.37%, and 3.35%. In 2024, both the electric heavy-duty truck and battery-swapping heavy-duty truck markets achieved a "12 consecutive increase." Compared to the former, the electric heavy-duty truck market stands out, with double-digit growth every month, an average monthly growth rate of 213%, and continuously outperforming the new energy heavy-duty truck market for 16 consecutive months. In 2024, the electric heavy-duty truck market delivered a year-end performance with cumulative sales of 48,400 units, a significant 209% increase year-on-year, making it one of the most outstanding submarkets of new energy heavy-duty trucks.