China’s Truck Export Situation in the First Quarter of 2023

In the first quarter of 2023, the truck market totaled 838 thousand vehicles, down 4.2% year-on-year. In the first quarter of 2023, the accumulative sales volume of truck export market was 158 thousand, up by over 40% (41%) year on year.

Among the exporting countries, Russia led the rise; Mexico and Chile are second and third. In the first quarter of 2023, the number of China’s truck exports to TOP10 countries and the market share occupied are as follows:

As can be seen from the chart above, among the TOP10 countries exporting trucks in the first quarter of 2023, China has the following characteristics: it exports the most to Russia and is the only country with more than 20000 vehicles, up 622% from the same period last year, leading the way, and the market share is 18.1%. This is one of the most important factors to promote the great growth of truck exports in the first quarter of China.

This was followed by Mexico, which exported 14853 vehicles to Latin America, up nearly 80 per cent (79 per cent) from the same period last year, with a market share of 9.4 per cent.

The two exporting countries account for nearly 30% of the total.

The number of trucks exported to other countries is less than 7500, with a market share of less than 5 per cent.

Among TOP10 exporters, six rose and four fell from a year earlier, with Russia growing the fastest. TOP10 exporters account for 54 per cent of the total.

It can be seen that the national market of China’s truck exports in the first quarter of 2023 is not wide enough, mainly due to the export of some economically underdeveloped countries. For developed countries such as Europe, China’s truck products still do not have a competitive advantage.