The new energy tractor is the most abundant application scenario, the most demanded, and the subdivided model in the new energy heavy truck market, and has always attracted the attention of the industry. From January to May 2024, the cumulative sales of new energy tractors were 11,564, a year-on-year increase of 1.7 times, making it the best first May in history. So what about the new energy tractor market in the next June? In the first half of this year, what kind of report card did the new energy tractor hand over in the mid-term exam?
The terminal card display shows:
In June 2024, 6,974 new energy heavy trucks were sold, a year-on-year increase of 149%, of which 4,418 new energy tractors were sold, a year-on-year increase of nearly 2.5 times (250%), not only setting a new high in sales in the same period in recent years, but also setting a new monthly sales record in history.
From January to June 2024, 27,714 new energy heavy trucks were sold, a year-on-year increase of 141%, of which 15,982 new energy tractors were sold, a year-on-year increase of 189%.
So what are the main characteristics of the new energy tractor market in June 2024 and the first half of the year?
Feature 1: 2.5 times year-on-year and 54% month-on-month
According to terminal licensing data, 4,418 new energy tractors were sold in June 2024, an increase of nearly 2.5 times (250%) from 1,261 in June last year, and an increase of 54% from 2,868 in May this year. It can be seen that the sales of new energy tractors in June this year have achieved a good development trend of year-on-year growth.
Table 1, year-on-year statistics of new energy in June 2024 (data source: terminal licensing information)
Table 2, month-on-month statistics of new energy in June 2024 (data source: terminal licensing information)
--- June rose 2.5 times year-on-year, according to the analysis of the main reason for the withdrawal of new energy vehicle purchase subsidies in the same period last year, resulting in a low sales base of new energy tractors in June last year (only 1,261), so the foundation for the year-on-year rise in new energy tractors in June this year. In addition, the economic environment improved in June this year, and the demand for new energy tractors increased.
--- June, the month-on-month increase of 54%, mainly due to the recent introduction of a series of policies to support the development of new energy heavy trucks, which strongly promoted the growth of tractor sales in June this year. In addition, June is the month of the end of the first half of the year, and some car companies focus on listing in June in order to sprint the performance indicators of the first half of the year, which pushes up sales in June this year to a certain extent.
Feature 2: Create a new high in sales in each month from January to June this year
According to the terminal licensing information, the sales statistics of new energy tractors in each month from January 2024 to June 2024:
As can be seen in the figure above, the sales volume of new energy tractors in June 2024 will be 4,418, ranking a new high in sales in each month from January to June this year, mainly because the above has been briefly analyzed.
Feature 3: Sales volume hit a new monthly sales record in history
According to the terminal licensing information, the sales statistics of new energy tractors in June in the past five years are as follows:
Screenshot 1, the sales trend of new energy tractors in each month in the past 5 years (data source, ; Terminal Licensing Information)
As shown in the diagram above,
In June 2024, 4418 new energy tractors were sold, the highest in the same period in the past 5 years, and in June before 2020, the sales of new energy tractors were very small, or even no sales, so it can be considered that the new energy tractors in June this year hit a new high in the same period in history. It can be seen that the sales of new energy tractors in June this year also set the highest monthly sales in each month in the past five years, because there are almost no sales of new energy tractors in the months before 2020, so it can be concluded that the new energy tractor in June this year has set a record of the monthly sales champion of new energy tractors in history. It can be seen that the performance of the new energy tractor market in June this year is the hottest month in history!
According to the analysis, the specific reasons are:
First, in May 2020, 2021, and May 2022, the market demand was relatively shrinking. In June 2023, it was directly affected by the cancellation of new energy vehicle purchase subsidies, which laid the foundation for sales in June this year to hit a record high in the same period in recent years.
Second, in recent years, the state has frequently introduced policies to support the development of new energy vehicles, coupled with the current economic environment has improved, and the demand for new energy tractors has increased.
Feature 4: The year-on-year increase constitutes "12 consecutive increases", and the increase ranks second
Table 1, sales volume and year-on-year growth of new energy tractors in each month from June 2023 to June 2024 (data source: terminal licensing information)
The chart above shows that the new energy tractor market in June 2024:
--- sales increased by 250% year-on-year, which constituted a "12th consecutive increase" from the previous 11 consecutive increases, and the year-on-year increase was the second highest among the 12 consecutive increases. According to the analysis, it is mainly due to:
First, in 2023, due to the cancellation of new energy vehicle purchase subsidies, the early sales base will be low, which will provide an opportunity for the year-on-year deduction of "12 consecutive increases" in March 2024;
Second, the impact of the cancellation of new energy vehicle purchase subsidies on the new energy tractor market has become smaller and smaller, and the current new energy heavy truck market has basically returned to the previous state;
Third, a number of favorable policies at the national level have been introduced recently, which has promoted the year-on-year rise of new energy tractors in June this year.
Feature 5: June, the year-on-year and cumulative year-on-year comparisons outperformed the new energy heavy truck market
Table 2, according to the terminal licensing data, the year-on-year growth rate of new energy tractors in May 2024 and the overall market comparison of new energy heavy trucks:
As can be seen in the table above:
--- June 2024, new energy tractors increased by 250% year-on-year, outperforming the 149% increase in the overall terminal market of new energy heavy trucks in June 2024 by nearly 101 percentage points;
--- June 2024, new energy tractors increased by 54% month-on-month, outperforming the 34% growth rate of the new energy heavy truck terminal market in June 2024 by nearly 20 percentage points.
In addition, from January to June this year, the cumulative year-on-year growth rate of new energy tractors increased by 189%, far outperforming the 141% year-on-year growth rate of the overall terminal market of new energy heavy trucks from January to June this year, nearly 48 percentage points.
In short, in June this year, new energy tractors outperformed the overall market of new energy heavy trucks year-on-year and cumulatively.
Feature 6: June: Sany won the championship, XCMG / Sinotruk ranked second and third; In the first half of the year: Sany, XCMG, and Sinotruk ranked in the top three
Table 3, according to the terminal licensing information, the sales ranking of the top 10 new energy tractor sales companies in June 2024 and from January to June:
The chart above shows:
In the competition pattern of the new energy tractor market in June 2024:
--- Sany heavy truck sold 810 vehicles, accounting for 18.33% of the market, winning the sales championship; Outstanding performance;
--- XCMG sold 754 vehicles, ranking second, accounting for 17.07% of the market;
--- China National Heavy Duty Truck sold 532 vehicles, ranking third, accounting for 12.04% of the market;
--- the rest of the car companies sold less than 500 units.
In short, in the competition pattern of the new energy traction market in June this year, Sany won the championship, and XCMG Heavy Duty Truck ranked second and third.
In the competition pattern of the new energy tractor market from January to June 2024:
--- Sany heavy truck has sold a total of 2,711 vehicles, ranking first and the only car company with sales of more than 2,500 vehicles, a year-on-year increase of 146%, underperforming the market, accounting for 16.94% of the market, and winning the sales championship;
--- XCMG heavy trucks sold a total of 2,458 vehicles, ranking second, a year-on-year increase of 177%, underperforming the market, accounting for 15.36% of the market;
--- China National Heavy Duty Truck has a total of 1,577 sales, ranking third, a year-on-year increase of 776%, outperforming the market, accounting for 9.85% of the market; better performance;
--- cumulative sales of the rest of the car companies are less than 1,500 units.
--- TOP10 all grew year-on-year, led by JAC (up 3488%).
In short, from January to June this year, in the competition pattern of the new energy traction market, Sany won the championship, and XCMG/Sinotruk ranked second and third; The TOP10 all grew year-on-year, led by JAC.
In the next July and the second half of the year, how will the new energy tractor market perform? Stay tuned for the follow-up analysis of Truck.com!