In 2023, new energy light trucks are expected to exceed 50,000 units
According to the insurance data exclusively obtained by Fangde.com, in November 2023, new energy light trucks (35-6T insurance, the same below) sales of 6,187 vehicles, an increase of 1% month-on-month, and a year-on-year increase of 36% (4,533 vehicles).
According to the law of the new energy light truck market in previous years, the monthly sales volume in the last month will sprint to more than 10,000 units, and the new energy light truck is expected to exceed 50,000 units in 2023.
In November, the market pattern has changed a lot, "Weichai Department" entered the second, XCMG ranked in the top seven, in November, what are the highlights of the new energy light truck market?For details, please see the Fangde report.
In 2023, new energy light trucks are expected to exceed 50,000 units
Fuel cell light trucks take the lead
In November 2023, the sales volume of new energy light trucks was 6,187 units, a year-on-year increase of 36%, and from January to November 2023, the sales volume of new energy light trucks was 410,000 units, up 60% year-on-year.
Looking at the sales trend of new energy light trucks in the first 11 months of 2023-2023, it can be seen that in the first 11 months of 2023, the trend of new energy light trucks is a steady and continuous upward process, which is the same as the trend in 2023. In November 2022, 4,533 units were sold, but in November 2023, monthly sales exceeded 6,000 units.
Judging from the trend, the sales volume of the new energy light truck market is expected to exceed 10,000 units in December 2023, with an annual sales growth rate of about 65%.
Fangde.com analysis believes that the growth of new energy light trucks mainly comes from several reasons. The first is policy empowerment. According to the 14th Five-Year Plan, by the end of 2025, new energy vehicles in urban logistics will account for 20%. Previously, eight ministries and commissions have also issued a document on "Comprehensive Electrification of Urban Public Sector in the Public Sector", striving to achieve 80% of new energy in the future. A large part of logistics vehicles are used in the urban distribution transportation market, especially electric light trucks, with a wide range of application scenarios, and the promotion efforts are relatively large, which in turn drives the overall growth of the new energy light truck market.
Secondly, in November 2023, a number of new energy light truck companies received large orders for delivery, especially Foton, Dongfeng and many other companies, which have made many gains in the hydrogen fuel light truck market.
As can be seen from the table below, from January to November 2023, Dongfeng took the lead in the fuel light truck market, with sales increasing by 50 times year-on-year.
In addition, from January to November 2023, the fuel distribution of new energy light truck models has also changed greatly. Among them, the share of pure electric light trucks accounted for 89%, a decrease of 4% compared with the same period in 2022. Among hybrid light trucks, diesel hybrid light trucks saw the largest increase, up 741% year-on-year, and the share of fuel cell light trucks also increased by 29%.
Long-range "cliff-like" lead
"Weichai Department" entered the second XCMG ranked in the top seven
In November 2023, against the backdrop of a 36% year-on-year and 1% month-on-month increase in new energy light trucks, there are still companies that have outperformed the industry.
From the perspective of the competitive landscape, the new energy light truck market presents a strong trend. Compared with November 2022 and November 2023, the top ten lists of new energy light trucks have obvious transposition. In November 2022, the top five in the industry were long-range new energy commercial vehicles, Dongfeng, SAIC light truck, Foton and Sinotruk. In November 2023, if the sales volume of Weichai series (including Sinotruk, Shaanxi Automobile, and Weichai New Energy) is integrated, the overall sales volume will reach 959 vehicles, which can rank second in the industry, and this month, XCMG jumped into the top seven in the industry.
In November 2023, Yuanyuan Automobile ranked first in the industry with a sales volume of 1786, which is also the 22nd month that Yuanyuan Automobile has won the sales championship of new energy light trucks, a year-on-year increase of 44%, and this monthly sales volume is higher than the second and third places combined.
In November, there were five companies that exceeded the industry growth rate year-on-year, namely long-range new energy commercial vehicles (including Geely Sichuan commercial vehicles, Jiangxi Geely new energy, Tang Jun), JAC (including Anhui Jianghuai, Sichuan Jianghuai), China National Heavy Duty Truck, Zhejiang UFO and XCMG. Among them, XCMG Automobile increased by 30,300%, achieving a qualitative leap.
Compared with the previous month, 4 of the 10 companies are growing, among them, Dongfeng increased by 14% month-on-month, UFO increased by 14% month-on-month, and XCMG increased by 223% month-on-month, the highest in the industry.
From the perspective of cumulative sales, from January to November 2023, the only companies that sell more than 10,000 units in the new energy light truck market are long-range new energy commercial vehicles. It was followed by Dongfeng with a cumulative sales of 5,813 units. The cumulative sales of more than 4,000 units include Beiqi Foton and SAIC light trucks (including SAIC Maxus and Nanjing Motor). Enterprises with cumulative sales of more than 2,000 vehicles include JAC, Yutong and Weichai New Energy. The cumulative sales of Sinotruk and FAW are close to 2,000 vehicles.
Among the top ten companies, the cumulative growth rate of more than 100% is JAC, UFO. Among them, the cumulative increase of flying saucers is the highest, reaching 139%.
In terms of share, as the champion in 2023 and 2023, the long-range has grown steadily, with a share of 27% and a slight increase of 1%, which means that for every 4 new energy light trucks sold in the industry, 1 is long-range. In addition, in addition to long-distance, the new energy light truck market has a share of more than 10% Foton, SAIC light truck, and Dongfeng (Foton 14%, SAIC 12%, and Dongfeng 10%).
From January to November 2023, the total share of the top 10 new energy light truck companies reached 91%, compared with 85% in the same period last year, and the top 10 share increased by 6%, indicating that the industry concentration has further increased. At the same time, the share of the top five companies increased significantly compared with the same period (from 67% to 69%), indicating that the Matthew effect of the top five companies is obvious, and the strong ones are stronger.
In November 2023, the "tenth goalkeeper" will fall to Zhejiang UFO. You must know that in May 2023, UFO is also ranked 24th. In November 2023, Zhejiang UFO has entered the top 10 many times.
In 2023, the top ten and last contenders in the new energy light truck industry will also include Chongqing Changan, Jiangling, XCMG, Shaanxi Automobile, Qingling, Nanjing Jinlong, etc. These new energy light truck companies are only 100 vehicles behind the top 10.
From January to November 2023, the overall sales of new energy light trucks will be 40,000 units, accounting for a small proportion of the overall light truck market (1.7 million), and the cumulative sales of the top ten companies will be 638 vehicles, indicating that the overall market is still on the rise.
Can new energy light trucks exceed 50,000 units in 2023?How will the industry landscape change?Please stay tuned.