Commercial vehicles are mainly used to transport people and goods, including all trucks, special vehicles, construction vehicles, passenger cars with more than 9 seats, tractors, agricultural vehicles, mining vehicles, etc. According to data from the China Association of Automobile Manufacturers (invoicing sales volume), commercial vehicle sales in mainland China increased by 22.1% year-on-year to 4,030,900 units last year. Among them, the cumulative sales of medium and heavy trucks in the market were 1,018,200, a year-on-year increase of 33%; Large, medium and light passenger cars sold 53,600, 38,200 and 399,900 respectively, an increase of 4%, 4% and 25% respectively.
With the gradual recovery of the market, the head manufacturers have also handed over a brilliant report card. As the most comprehensive and largest commercial vehicle company in China, Foton Motor will achieve revenue of 56.097 billion yuan and net profit of 909 million yuan in 2023, an increase of 20.78% and 1262.27% year-on-year respectively; The sales volume was 631,000 units, a year-on-year increase of 37.14%, 15 percentage points higher than the industry.
China National Heavy Duty Truck sold a total of 128,000 heavy trucks, an increase of 32.8% year-on-year. This company has been ranked first in the export of domestic heavy truck industry for more than 10 consecutive years, and has been sold to more than 100 countries and regions. For every 10 export heavy trucks, 3 are from China National Heavy Duty Truck. Last year's export sales were 130,100 units, a year-on-year increase of 47%, setting a new record high; Among them, high-end heavy trucks accounted for 45.4%, doubling year-on-year.
Chinese commercial vehicle companies have achieved good results, but it is undeniable that compared with European and American brands, there is still a big gap in terms of brand recognition, high-end market share and global after-sales service system. In the past year, the international leading commercial vehicle companies have also performed eye-catchingly.
IVECO achieved revenue of 16.213 billion euros (about 126 billion yuan) and net profit of 218 million euros, an increase of 12.9% and 48.3% year-on-year respectively. With around 35,000 employees, 20 manufacturing plants and 29 R&D centers worldwide, the Italian company owns IVECO BUS and HEULIEZ, public transport and high-end bus and coach brands, and MAGIRUS fire trucks.
PACCAR, the largest truck manufacturer in the United States, was founded in 1905 and is headquartered in Bellevue, Washington. Last year, sales revenue increased 22% year-over-year to $33.3 billion, and net income increased 53% year-over-year to $4.6 billion.
The Volvo Group, which focuses on the manufacture and service of drive systems for trucks, buses, construction equipment, marine and industrial applications (the passenger car business was acquired by Geely), had net sales of SEK 552,764 million last year and an adjusted operating profit of SEK 77,638 million. A total of 246,000 trucks were delivered, including 145,395 Volvo trucks, 69,859 Renault trucks and 29,830 Mack trucks. The United States, Brazil, and the United Kingdom are the top three markets.
The TRATON GROUP, the truck subsidiary of the Volkswagen Group, includes Scania, MAN, Navistar and Volkswagen Trucks & Buses. Last year, sales revenue was 46.872 billion euros, a year-on-year increase of 16%; Net profit was 2.451 billion euros, up 114.8% year-on-year. Among them, Scania sold about 96,700 vehicles, a year-on-year increase of 113%; MAN has become a frontrunner in Europe's all-electric city buses, and the first electric trucks with a range of 800 kilometers will be delivered this year.
Daimler Trucks, the world's largest commercial vehicle manufacturer, achieved revenue of 55.89 billion euros (about 434.4 billion yuan) last year, a year-on-year increase of 10%; The net profit was 3.971 billion euros (about 30.86 billion yuan), a year-on-year increase of 44%, both hitting a record high. A total of 526,053 trucks and buses were delivered (including 26,168 Daimler buses), up 1% slightly.
According to public information, in October 2021, Daimler split its truck business and passenger car business into two independent companies, of which the passenger car business is still called Mercedes-Benz, and the truck and bus business is completely independently managed and established Daimler Trucks, which was successfully listed on December 10 of the same year.
Headquartered in Reinfelden-Echter Dingen, Daimler Trucks has more than 40 production sites worldwide, more than 100,000 employees, and eight commercial vehicle brands: Mercedes-Benz, Freighten, Western Star, Fuso, Bharat Benz, Daimler Bus, Thomas Bus and RIZON. In 2023, it will appear on the Fortune Global 500 list for the first time, ranking 264th.
Daimler Trucks has expanded its global product portfolio to 10 different zero-emission models, delivering 3,443 electric trucks and buses last year, up 277% year-on-year. In May this year, the two giants announced that they will form a joint venture with the Volvo Group to develop a common software-defined vehicle platform and a dedicated truck operating system, following the joint development of the hydrogen fuel cell industry and the construction of charging infrastructure.