China Passenger Car Association: Pickup Truck Manufacturers Wholesale Sales Ranking in May 2024

China Passenger Car Association: Pickup Truck Manufacturers Wholesale Sales Ranking in May 2024

In May 2024, the pickup truck market sold 45,000 units, which was flat year-on-year and increased by 1.7% month-on-month, which was at a medium-high level in the past five years. Since the pickup truck base was relatively high in May last year, the performance in May was quite good. From January to May this year, the pickup truck sales volume was 218,000 units, achieving a year-on-year growth of 4.1%, which was a good overall performance.

Since the effect of opening up the road rights for pickup trucks to enter cities is far less than that of pickup trucks going to rural areas, the entry of pickup trucks into cities has become a false proposition of fishing for the moon in the water. The pickup truck markets in the northwest, southwest, central regions, and northeast regions continue to strengthen. Although the country has increased its efforts to promote consumption and the unreasonable measures to restrict consumption are gradually being lifted, the demand for pickup trucks in cities with purchase restrictions and restricted traffic is still sluggish. Under the pressure of the sluggish real estate environment, the sales volume of pickup trucks in the domestic county and township markets has increased significantly year-on-year, effectively offsetting the shrinkage of pickup trucks in large cities.

In May this year, pickup truck sales were flat year-on-year, with pickup truck exports accounting for 45% of sales in May, making it the most exported category among commercial vehicles. Due to insufficient production by international automakers and large supply-demand contradictions, China's overseas auto demand has grown rapidly in recent years, driving China's pickup truck exports to continue to grow since 2022. From January to May 2024, exports still showed a relatively strong growth trend, with Great Wall, SAIC Maxus, and JAC performing extremely well. In the past two years, the export volume of some pickup truck companies has accounted for more than 40% of the total pickup truck volume of some manufacturers themselves.

In May, the year-on-year growth of domestic sales of pickup truck manufacturers was weak, mainly due to the high base after the revival of all industries in the spring of last year. Great Wall Motors, Jiangling Motors, Zhengzhou Nissan, Jiangxi Isuzu and others continued to perform strongly in the domestic pickup truck market. The pickup truck trend of traditional main manufacturers in the domestic retail market is still relatively stable. The domestic pickup truck market is relatively stable, and the pickup truck market of Great Wall, Jiangling, Zhengzhou Nissan and Jiangxi Isuzu continues to maintain its one-super-three-strong pattern. The domestic electric pickup truck market is gradually starting up, and electric pickup trucks such as Geely Radar are gradually cultivating the market. In the future, it is expected that more new energy pickup truck products will meet the needs of domestic and foreign markets.

Note: The data in this article is based on the monthly report of the Passenger Car Market Information Joint Branch of the China Automobile Dealers Association (Commercial Vehicle Production and Sales News) - Draft

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