Cui Dongshu: China's national pickup truck exports reached 18,000 units in January, a year-on-year increase of 30%, showing a strong growth trend in exports.

GMTEightAAPP learned that Cui Dongshu, Secretary-General of the China Association of Automobile Manufacturers, stated in a post that in the past two years, the production of international automotive companies has been insufficient, resulting in a large supply-demand gap. This has laid the foundation for the export of Chinese pickup trucks overseas and has also driven the continuous growth of Chinese pickup truck exports since 2022. In January of this year, pickup truck exports continued to show strong year-on-year growth. In January, a total of 18,000 pickup trucks were exported nationwide, an increase of 30% compared to the same period last year. By 2024, pickup truck exports will account for 45% of total pickup truck sales, reaching 50% in January 2025, with a significant increase in exports of Chinese domestic pickup trucks. Pickup trucks, as internationally competitive vehicle models, have become the strongest category in China's commercial vehicle exports. Production and sales of pickup trucks: In January 2025, national pickup truck manufacturers produced 36,800 units, a decrease of 8% year-on-year and a decrease of 14% compared to the previous month. Pickup truck market sales in January reached 36,500 units, a decrease of 18% year-on-year and a decrease of 20% compared to the previous month, remaining at a moderate level over the past five years. Great Wall Motor continues to maintain a strong leadership position in the pickup truck market, performing well both domestically and internationally. In the domestic pickup truck market, companies such as Great Wall Motor, Jiangling Motors Corporation, Zhengzhou Nissan, and Jiangxi Isuzu continue to perform well. The "one super many strong" pattern of the pickup truck market continues to be maintained. Pickup truck exports: In January, a total of 18,000 pickup trucks were exported nationwide, an increase of 30% year-on-year and a decrease of 15% from the previous month. By 2024, pickup truck exports will account for 45% of total pickup truck sales, reaching 50% in January 2025, with a significant increase in exports of Chinese domestic pickup trucks. New energy pickup trucks: In 2024, Shanxi Guoxin Energy Corporation sold 12,500 pickup trucks, an increase of 59% year-on-year. In January, sales of new energy pickup trucks reached 16,000 units, an increase of 87% year-on-year, showing a strong trend compared to fuel-powered pickup trucks. With the sharp increase in logistics demand for electric light trucks, electrification is the best way to improve the road rights of commercial vehicles. As electrification and passengerization develop, the space of the pickup truck market gradually improves. In January, sales of new energy pickup trucks included 913 Geely Lynk & Co pickups and 473 Extended Range pickups from Changan, indicating the start of the domestic electric pickup truck market, which is expected to develop faster in the future to meet domestic and international demand. I. Overall Analysis of the Pickup Truck Market 1. Monthly trends in the pickup truck market over the years In 2024, the wholesale market trends in the pickup truck market fluctuated from high to low. The start of January was strong, with a moderate peak in March and a weak trend from May to September. The trend of the fourth quarter improved. In 2023, due to the early Spring Festival compared to previous years, the pickup truck market in March and April of 2024 benefited from this factor. Pickup trucks are classified as production material vehicles, with relatively few purchases before the Spring Festival. Sales of pickup trucks from March to December after the Spring Festival enter a peak season, driven by the needs of real estate, engineering projects, and corporate purchases. The sales volume of passenger vehicles represents the quality of life and pursuit of Chinese consumers, while sales of commercial vehicles represent the development status of small businesses and small private business owners in China. Only when the demand for commercial vehicles increases and basic livelihood issues are addressed can there be a possibility of recovery in the passenger vehicle market. The pickup truck market directly reflects the development of small private business owners. The pickup truck market represented by Great Wall Motor has become a pioneer in the recovery of the automotive market after the epidemic. However, with the sluggish real estate market and the high operational pressure of the tertiary industry, the pickup truck market's recovery is also challenging. Due to the rapid activity in the overseas pickup truck export market, the pickup truck market is becoming increasingly complex. With the increase in the middle-aged group's culture of playing, self-driving, and outdoor activities, more people are choosing pickup trucks for leisure. Therefore, the difficulty of entering urban areas with pickup trucks is high, and the main demand lies in the free lifestyle and outdoor work in small towns. 2. January trends in the national pickup truck market In January 2025, sales in the pickup truck market reached 37,000 units, a decrease of 17% year-on-year and a decrease of 20% compared to the previous month, remaining at a median level over the past five years. The overall situation in the pickup truck market remains stable, with a weakening of domestic demand. In 2018, pickup truck sales reached 450,000 units, an increase of 10%; in 2019, cumulative sales of pickup trucks reached 440,000 units, a decrease of 3% year-on-year; in 2020, sales reached 480,000 units, an increase of 9%, showing strong growth; in 2021, pickup truck sales reached 550,000 units, an increase of 14%, reaching a recent peak. The overall trend of pickup trucks in 2022 was relatively stable, reaching 513,000 units, a 6% decrease from 2021. In 2023, total pickup truck sales reached 513,000 units, a year-on-year decrease of 0.1%. In 2024, 516,000 pickup trucks were sold, achieving a year-on-year increase of 1%, with overall strong performance. The trend in pickup trucks in 2025 is relatively stable. Overall, the trend of pickup trucks remains favorable compared to light trucks. 3. Strong performance in pickup truck exports In January 2025, pickup truck exports reached 18,400 units, showing a good increase of 30% compared to January last year, but still lower than exports in normal months. Companies such as Great Wall Motor, SAIC Maxus, Chongqing Changan Automobile, Anhui Jianghuai Automobile Group Corp., Ltd., and Beiqi Foton have shown excellent performance in exports. However, the recent slowdown in export growth of commercial vehicles is a common characteristic. In 2024, total pickup truck exports nationwide reached 233,000 units, with a growth rate of 76%. This year, the overall industry export of pickup trucks led by Great Wall Motor has been strong. In January 2025, pickup truck exports reached 18,000 units, an increase of 30% year-on-year, a decrease of 15% from the previous month, with the industry's export share continuing to remain high. By 2024, pickup truck exports were accounting for 45% of total pickup truck sales, reaching 50% in January 2025, with a significant increase in exports of Chinese domestic pickup trucks. As an internationally competitive vehicle model, pickup trucks have become the strongest category in China's commercial vehicle exports. 4. Trends in new energy pickup trucks Previous trends in new energy pickup trucks and new energy commercial vehicles showed similar characteristics of fluctuating growth. With the popularity of Tesla pickup trucks, new energy pickup trucks are gradually moving towards consumer characteristics. Geely Lynk & Co, and others are driving private consumption in the pickup truck market.strengthened; growing strongerThe pickup truck market of Shanxi Guoxin Energy Corporation is gradually rising, and with the hot sale of Tesla's pickup trucks, China's new energy pickup trucks are also entering scale development. In 2024, Shanxi Guoxin Energy Corporation sold 12,000 pickup trucks, an increase of 59% compared to the previous year. In January 2025, 16,000 new energy pickup trucks were sold, an increase of 87%, showing a better trend than fuel pickup trucks. 2. Sales Region Characteristics of Pickup Trucks 1. Regional Changes in Pickup Truck Market The main regions for pickup truck market are primarily in the northwest and southwest, with high demand for pickup trucks in the western regions. In January, the demand for pickup trucks in the northwest region was strong. Currently, in January 2025, the demand for pickup trucks in the southwest and northwest regions accounts for about 46% of the total demand, becoming the two core markets, with the southwest market being larger this year. The western market has remained relatively stable recently, while the eastern region has declined. Despite being economically active, the pickup truck market in central and southern China has not seen significant growth. Pickup trucks still perform relatively well in the northern and western markets, mainly due to the relatively inactive economy in these regions, mainly driven by agriculture and construction demand. The development of private passenger-pickup trucks needs to be further strengthened, with the development of electrification and passengerization, pickup truck sales in major cities like Beijing, Tianjin, and Shanghai are expected to recover this year, and the recent launch of Great Wall Motor's passenger-pickup trucks is also worth looking forward to. 2. Analysis of Pickup Truck Sales Region The main sales regions for pickup trucks are still in small and medium-sized cities and county markets, but with the introduction of electrification and passenger-pickup trucks, demand in major cities has improved. In January 2025, large and medium-sized cities and restricted cities like Beijing performed well. The county market continues to be stable, and there is no clear breakthrough in the market for fuel pickup trucks in major cities. The performance of the county market in January is relatively weak. Major cities are gradually experiencing a shrinking trend in the pickup truck market, and in restricted cities, pickup trucks perform well in Beijing due to license plate restrictions. Markets like Shenzhen and Tianjin, which showed strong performance earlier, are relatively weak. Chongqing and Chengdu show relatively strong performance. Hangzhou, as a major market with a larger geographical area than Beijing, has good demand for tea farmers' pickup trucks. Three. Competition Analysis of China Pickup Truck Market 1. Analysis of Pickup Truck Manufacturers' Performance In 2024, the major pickup truck manufacturers in the market performed well, with Great Wall Motor maintaining a strong absolute advantage in pickup trucks. Chongqing Changan Automobile performed very well in foreign export markets in January, while Anhui Jianghuai Automobile Group Corp., Ltd., Jiangling Motors Corporation, showed strong trends in January, and SAIC Maxus and Zhengzhou Nissan maintained a strong position in the domestic market. With the surge in pickup truck exports, SAIC Maxus, Anhui Jianghuai Automobile Group Corp., Ltd., and Chongqing Changan Automobile have quickly risen, squeezing the sales of tail-end companies. Recently, traditional large group pickup truck manufacturers have performed strongly, especially in export markets like SAIC Maxus. Great Wall Motor's pickup trucks perform well domestically and internationally, with strong vitality from new product launches. Jiangling Motors Corporation's pickup truck demand is growing rapidly. SAIC Maxus and Chongqing Changan Automobile, which are newer players, show good performance in pickup trucks. 2. Domestic Market Share Trends of Pickup Truck Manufacturers In 2024, the domestic retail pickup truck market still maintained strong growth, but began to show a gradual trend of differentiation. Great Wall Motor's pickup truck sales stand out. In January this year, Great Wall Motor's domestic sales share was leading by nearly 50%, followed by Jiangling Motors Corporation, Zhengzhou Nissan, and Jiangxi Isuzu, maintaining a strong position. The domestic market competition landscape is relatively stable, with many manufacturers showing strong performance in exports, leading to an overall strong pickup truck market driven by exports. 3. Export Trends of Pickup Truck Manufacturers Great Wall Motor's pickup trucks have consistently ranked first in cumulative exports over the years, but SAIC Maxus, Chongqing Changan Automobile, and other pickup truck manufacturers have shown super strong performance in exports. Due to SAIC Motor Corporation's strong export foundation, its own export system is strong, leading to strong export growth for SAIC Maxus. Recently, the export growth rate of pickup trucks and other exports has slowed down, facing the impact of improved overseas supply and reduced demand. 4. Monthly Sales Trends of Pickup Trucks The main pickup truck cities in the country are currently in cities like Shigatse, Chongqing, Urumqi, Chengdu, and Haikou in the southwest, northeast, and northwest regions. Zhengzhou, Beijing, Shenzhen, and other large cities have a significant demand. With the introduction of electric pickup trucks, Shenzhen has shown strong performance recently. 5. Monthly Regional Trends of Pickup Trucks In recent years, with the upgrade to National VI emissions standards, the pace of pickup truck product updates and iterations has accelerated, and pickup trucks have entered a period of market adjustment this year. According to pickup truck market tracking, Great Wall Motor occupies nearly 50% of the absolute dominant position in the domestic market, with a strong market share in the northwest and north China regions. The top 3 pickup truck manufacturers hold a total market share of 80%, with Jiangling Motors Corporation performing strongly in East China and the Yangtze River Basin; Zhengzhou Nissan performing well in the northwest and southwest regions; and Jiangxi Isuzu performing well in the southwest and northwest regions. In 2024, the incremental demand mainly came from the southwest region and the northeastern market. Sales were mainly driven by construction, municipal utilities, agriculture, and forestry.Pastoralism and fishing, wholesale and retail industries, as well as these new customer groups such as high-end, passenger-oriented, and off-road enthusiasts.As China's aging population increases, the aging trend of migrant workers is becoming more apparent. There is also a clear trend of migrant workers returning to their hometowns, which has helped drive the recovery of small towns and county markets. Traditional mainstream car manufacturers have shown strong performance in their main vehicle models, while Great Wall Motor's product innovation has been very effective, with new products like the Jin Gang showing outstanding performance.