On December 8, 2024, Sinotruk 2025 Partner Conference, themed 'WE ARE ONE,' was successfully held in Jinan, the city of springs. Wang Zhijian, Deputy Party Secretary and President of Shandong Heavy Industry Group, and Party Secretary and Chairman of China National Heavy Duty Truck Group, delivered the keynote speech and presented awards to the outstanding partners.
2024 Defying the Odds
In 2024, despite the ongoing downturn in the domestic industry and the weakening momentum in international markets, Sinotruk has worked closely with its vast network of partners to aggressively capture market share, secure orders, and ensure delivery. As a result, the company’s business performance has once again outpaced the industry. The aggregate revenue is expected to exceed RMB 194 billion, representing a year-on-year growth of over 10%. The total profit and tax amount is expected to reach RMB 12 billion, marking a year-on-year increase of more than 15%. Vehicle sales are projected to reach 370,000 units, a growth of more than 10% compared to the previous year.
Among these, heavy truck exports are expected to total 135,000 units, up 4% year-on-year. Export revenue is projected to reach RMB 45.1 billion, a 5% increase. Despite the forecasted 12% year-on-year decline in the domestic traditional energy heavy truck sector, Sinotruk heavy and light trucks rank first in growth among the top five domestic manufacturers, achieving the highest sales, market share, and export figures in the domestic heavy truck industry. For new energy vehicles, the annual sales of heavy trucks are expected to reach 8,600 units, up 280% year-on-year, while sales of new energy light trucks are expected to reach 3,300 units, marking a 15% increase.
6 Major Releases, Strong Debut
At the conference, six new product and standard release events were held in quick succession, showcasing a comprehensive lineup of Sinotruk latest products to attendees.
Sinotruk New Energy Full-Scene Series Product Launch. Five new energy models were unveiled, including the SITRAK 423kWh battery dump truck, HOWO-TX 612kWh battery dump truck, HOWO-TX 600kWh central drive charging tractor, HOWO-TX 500kWh charging tractor with electric drive axle, and the HOWO Commander PRO 100kWh light truck with electric drive axle, making a stunning debut.
Sinotruk Pioneer V Wide-Body Light Commercial Vehicle Release. Six models were introduced, including the cargo version, multi-functional version, business trip version, route version, basic special vehicle version, and business version, setting a new benchmark for high-end light commercial vehicles.
Sinotruk Next-Generation Heavy Truck Platform Release. The high-end fuel-powered long-distance tractor designed for the long-haul sector was ceremoniously launched as part of the next-generation heavy truck platform.
Sinotruk New HOWO TX7-N Release. This vehicle features high quality, safety, and enhanced load-bearing capacity, with integrated optimization measures that make it the king of cost performance in the coal and composite transportation fields.
Sinotruk HOWO Hanjiang 2025 Light Truck Release. The truck achieves leading levels in fuel economy, power output, and reliability, setting a new standard in the industry.
Sinotruk Used Vehicle Certification Standard Release. This release not only underscores Sinotruk’s commitment to building a comprehensive service ecosystem for the entire vehicle lifecycle but also strongly demonstrates its ongoing effort to create greater value for its partners!
2025 Continuing the Glory
Looking ahead to 2025, Sinotruk has firmly set a target of 450,000 vehicles in total sales, with a year-on-year growth of over 20%. Together with its extensive network of partners, Sinotruk is launching five mutually beneficial initiatives for 2025:
♦ Jointly creating a full product range that maximizes customer profitability
♦ Collaboratively building the most trusted sales channel network for customers
♦ Working together to establish the most efficient and customer-centric service support system
♦ Cooperatively developing a rapid market response mechanism
♦ Jointly offering maximum value throughout the entire product lifecycle
During this event, Sinotruk showcased a total of 79 vehicles, setting up multiple exhibition areas, including those for new energy vehicles, long-haul trunk logistics, green transport and cold chain logistics, and express delivery. The exhibition covered a wide range of models, including heavy trucks, light trucks, special vehicles, dump trucks, and buses, as well as components and assemblies such as engines, axles, powertrains, and autonomous driving systems. A total of 2,400 participants, including Sinotruk partners and relevant personnel, attended the event.
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