Weichai has over 860,000 units, Yuchai nearly 500,000, and Shangchai leads with a 39% increase. The sales of diesel engines have continued to grow in the first ten months.

Release time:

2021-12-10

In October, the internal combustion engine market continued the trend from September, with a month-on-month increase and a year-on-year decrease. According to data from the China Internal Combustion Engine Association, in October this year, 4.1879 million internal combustion engines were sold, representing a month-on-month increase of 2.69% but a year-on-year decrease of 5.79%. From January to October, the cumulative sales of internal combustion engines reached 40.91 million units, with a year-on-year increase of 10.60%, but the cumulative growth rate narrowed by about 2 percentage points. The multi-cylinder diesel engines for commercial vehicles, closely related to the commercial vehicle market, continued to show a month-on-month increase and a year-on-year decrease: in October this year, 177,700 multi-cylinder diesel engines for commercial vehicles were sold, a month-on-month increase of 5.43% but a year-on-year decrease of 37.38%. From January to October, cumulative sales reached 2.5853 million units, a year-on-year decrease of 3.15%, officially entering negative growth. From January to October, diesel engine sales reached 5.2055 million units, with a year-on-year increase of 1.2%. In October this year, domestic diesel engine sales were 384,000 units, a month-on-month decrease of 3.03% and a year-on-year decrease of 29.82%. From January to October, cumulative sales reached 5.2055 million units, with a year-on-year increase of 1.19%. Diesel engines accounted for 12.96% of the total internal combustion engine market share, continuing to decline compared to the previous month, falling below 13%. Among them, the sales of multi-cylinder diesel engines for commercial vehicles in October were 177,700 units, a month-on-month increase of 5.43% but a year-on-year decrease of 37.38%. From January to October, cumulative sales of internal combustion engines for commercial vehicles reached 2.5853 million units, a year-on-year decrease of 3.15%. In October, domestic commercial vehicle sales continued to decline sharply, while the cumulative sales of diesel engines maintained slight growth. However, the cumulative sales of multi-cylinder diesel engines for commercial vehicles have shifted from growth to decline, entering a downward trend. Multi-cylinder diesel engines: In the first ten months, Weichai sold 865,000 units, with significant market share increases for Yuchai, Shangchai, and Quanchai. In October this year, domestic multi-cylinder diesel engine sales again showed a dual decline in both month-on-month and year-on-year terms. In October, multi-cylinder diesel engine sales were 339,400 units, a month-on-month decrease of 3.26% and a year-on-year decrease of 25.98%. From January to October, cumulative sales of multi-cylinder diesel engines reached 4.5585 million units, with a year-on-year increase of 4.75%, but the cumulative year-on-year growth rate continued to narrow. In the first ten months of this year, the top ten companies in multi-cylinder diesel engine sales were Weichai, Yuchai, Yunnei, Quanchai, Jiefang, Jiangling, Xinchai, Foton Cummins, Dongfeng Cummins, and Shangchai, with the top ten sales at historically high levels, achieving a total market share of 78.01%. The table above shows that from January to October this year, Weichai Holdings sold a cumulative total of 864,700 multi-cylinder diesel engines, a year-on-year increase of 2.91%, with a market share of 18.97%, continuing to rank first in the industry. Yuchai ranked second, with cumulative sales of 481,800 multi-cylinder diesel engines from January to October, achieving a year-on-year growth of 9.96%, and its market share increased by 0.5% compared to last year. Yunnei Power remained in third place, with cumulative sales of 416,600 multi-cylinder diesel engines, a year-on-year decrease of 12.64%, and a market share of 9.14%. Among the remaining seven companies, five maintained growth while two declined. The market shares of these seven companies were: Quanchai 8.01%, Jiefang Power 6.31%, Jiangling 6.05%, Xinchai 5.67%, Foton 5.57%, Dongfeng 4.00%, and Shangchai 3.73%. In terms of rankings, compared to January to September, the market rankings from January to October did not change, with seven companies increasing and three decreasing. Among the growing companies, Shangchai had the highest growth rate, with cumulative sales of 170,000 multi-cylinder diesel engines from January to October, a year-on-year increase of 39.05%, and its market share increased by 0.92%, the highest growth rate and share increase among the top ten companies. Additionally, Anhui Quanchai also achieved double-digit growth, with cumulative sales of 365,100 multi-cylinder diesel engines from January to October, a year-on-year increase of 17.35%, and a significant increase in market share by 0.86%. Multi-cylinder diesel engines for commercial vehicles: Weichai accounted for 22.12%, with five companies increasing and five decreasing in the top ten. In October this year, domestic sales of multi-cylinder diesel engines for commercial vehicles were 177,700 units, a month-on-month increase of 5.43% but a year-on-year decrease of 37.38%. From January to October, cumulative sales of multi-cylinder diesel engines for commercial vehicles reached 2.5853 million units, a year-on-year decrease of 3.15%. The top ten companies in sales were Weichai, Jiangling, Foton, Yuchai, Yunnei, Jiefang Power, Quanchai, Dongfeng, Shangchai, and JAC, with a total market share of 88.35%. The table above shows that in the first ten months of this year, the top ten companies in sales of multi-cylinder diesel engines for commercial vehicles had five increasing and five decreasing, with one more company experiencing a decline compared to January to September. In terms of rankings, there was no change in cumulative sales rankings from January to September to January to October. Weichai still dominated the market, with cumulative sales of 571,900 units in the first ten months, capturing 22.12% of the market share, a year-on-year decrease of 6.41%. Jiangling remained in second place, with cumulative sales of 275,600 units from January to October, achieving a year-on-year growth of 5.35%, with a market share of 10.66%, an increase of 0.86%. Foton Cummins remained in third place in the industry, with cumulative sales of 253,600 units from January to October, with a year-on-year growth rate turning negative, decreasing by 1.34%, and a market share of 9.81%, an increase of 0.18%. The fourth, fifth, and sixth places were occupied by Yuchai, Yunnei, and Jiefang Power, all of which experienced varying degrees of year-on-year decline in growth rates and market shares. The seventh to tenth places were held by Anhui Quanchai, Dongfeng Cummins, Shangchai, and JAC, all of which experienced varying degrees of year-on-year growth in growth rates and market shares, with Shangchai having the fastest growth rate, selling 114,800 multi-cylinder diesel engines for commercial vehicles from January to October, a year-on-year increase of 46.26%, and a market share of 4.44%, an increase of 1.5%, the largest increase among the top ten companies. Conclusion In the first ten months of this year, although the cumulative sales of diesel engines maintained slight growth, the cumulative sales of multi-cylinder diesel engines for commercial vehicles have shifted from growth to decline. So, will the cumulative sales of diesel engines also shift from growth to decline after November? In this difficult situation, what kind of performance can various power companies deliver? Please continue to follow the reports from the First Commercial Vehicle Network.