Foton Motor: The heavy truck market capacity is expected to reach 1.15-1.2 million units next year, an increase of approximately 21-25%
Foton Motor recently stated in an institutional survey that from January to October this year, the sales volume of the heavy truck market has reached nearly 790,000 units, mainly driven by exports and natural gas vehicles, and the annual sales volume is expected to be 950,000 units. , a year-on-year increase of about 40%. In 2024, as the economic situation gradually improves and exports and natural gas can maintain current levels, the heavy truck market capacity is expected to reach 1.15-1.2 million units, an increase of approximately 21-25%.
It further stated that the current national average oil and gas price difference remains at around 2.5 yuan. The company judges that the domestic oil and gas price difference is expected to remain between 1-2 yuan at least until the first half of next year. Natural gas products still have certain advantages, and the country will issue an additional 10,000 yuan in late October. 100 million in national debt, which is conducive to economic growth in 2024. The company expects domestic sales to reach between 800,000 and 850,000 vehicles next year, a year-on-year increase of 15%-20%. Foreign countries have benefited from the growth in infrastructure and logistics demand in countries along the Belt and Road, as well as the economic recovery in Southeast Asia and other countries. The annual exports are expected to be around 280,000-300,000, a year-on-year increase of 12-15%.
Regarding natural gas heavy trucks, Foton Motor pointed out that the good sales of natural gas heavy trucks this year are mainly due to the large price difference between oil and gas, and the main application scenarios and models are tractors for trunk logistics. Pure electric heavy trucks are mainly used in closed scenarios and short distances, so they are replaced by diesel vehicles. . In response to the rapid growth in demand for natural gas heavy trucks, Foton Motor has actively adjusted its product structure. Currently, natural gas products on multiple platforms such as GTL and EST are on the market, with power covering multiple horsepower segments such as 440, 460, 500, and 530. In terms of performance and cost-effectiveness, It has strong competitive advantages and terminal sales continue to grow. In October, the domestic heavy truck market share reached 13%, with cumulative sales of 14,500 units from January to October, with a market share of 11.6%, a year-on-year increase of 6 percentage points; Auman Galaxy has begun switching to 2024 new products in November. And gas models have been launched.
