Interact Analysis’ Research Associate Yvonne Zhang wrote a report about the top new energy truck manufacturers in 2023, with the data concerning the domestic market only. In 2023, over 190 OEMs sold new energy trucks, with the top 10 OEMs accounting for 67% of total sales, up by 1 percentage point year-on-year. The cumulative sales of the top ten manufacturers all continued to grow, with the top three manufacturers each achieving sales in excess of 10,000 units.
China new energy truck sales in 2023
Reading from Interact Analysis’ report, Geely led the market by a significant margin with sales surpassing 30,000 units. Seres, whose entire new energy truck sales come from light-duty trucks, achieved the highest growth rate at 156%, jumping from fifth place to second in the rankings. XCMG, specializing in heavy-duty truck sales, benefited from the continuous addition of popular models, leading to a substantial 110% increase in terminal sales compared with 2022. Among the top ten companies, XCMG, Yutong, and SANY primarily sell heavy-duty trucks, while the remainder focus on light-duty trucks.
Furthermore, SANY, ranked ninth, achieved its entire sales from heavy-duty trucks, making it the top performer in new energy heavy-duty truck sales for 2023. InforeEviro secured the top position in new energy medium-duty truck sales with 498 units, although it did not enter the top ten for overall new energy truck sales.
Also considering new energy bus sales (chart above), Geely maintained its top sales position in new energy commercial vehicles for 20 consecutive months, thanks to surging demand for the company’s light-duty trucks and buses. Chery and Foton – both focusing on sales of new energy buses – secured the second and third positions, respectively, and saw an improvement in their rankings compared with 2022.