Sinotruk sees record-high exports in 2023

China National Heavy Duty Truck Group (Sinotruk), a leading heavy truck manufacturer in China, saw a significant increase in both domestic and international performance in 2023.

The company reported that its operating revenue grew 44percent year-on-year to an impressive 85.5 billion yuan ($11.8 billion). This strong growth was complemented by a substantial surge in the sales of heavy trucks, with a more-than-47-percent year-on-year increase, totaling 234,000 units and capturing a market share of over 25.7 percent, according to data from the China Association of Automobile Manufacturers.

The pivotal factor driving Sinotruk's outstanding performance has been its dominance in overseas markets. The company's strong advantage in international markets has been a key contributor to its exceptional financial and market achievements.

In 2023, the company's export volume reached an all-time high of 130,100 units, marking a 47-percent year-on-year increase. The structural shift in products has underscored the brand's heightened influence in the global market. In 2023, high-end products accounted for 45.4 percent of Sinotruk's exported heavy trucks. This remarkable growth in the proportion of high-end products reflects the company's strategic shift towards enhancing its products, brand, and service capabilities to establish a stronger global market presence.

Looking ahead, Sinotruk remains optimistic about its export business. The company has expressed its commitment to continue growing its international client base and promoting its brand globally. With its strong foundation in research and development, enhanced product offerings, and an extensive global marketing network, Sinotruk is poised for sustained success in 2024.