In November 2024, the production of pickups was 0.045 million units, a year-on-year decrease of 7.9%; the sales in the pickup market were 0.044 million units, a decrease of 3.1% compared to November 2023, but an increase of 5.6% compared to October, which is at the median level of the past five years.
According to reports from Zhitong Finance APP, the Passenger Car Association stated that in November 2024, the production of pickups was 0.045 million units, a year-on-year decrease of 7.9%; in November, the pickup market sales were 0.044 million units, a year-on-year decrease of 3.1% compared to November 2023, but increased by 5.6% month-on-month compared to October, remaining at the median level of the past five years. From January to November this year, the sales of pickups totaled 0.471 million units, achieving a year-on-year growth of 1.3%, showing stable overall performance. Great Wall Motor continues to maintain a strong leading position in the pickup market, performing well both domestically and internationally. In the domestic pickup market, companies such as Great Wall Motor (02333), Jiangling Motors Corporation (000550.SZ), Zhengzhou Nissan, and Jiangxi Isuzu all maintain a positive outlook, and the pattern of 'one strong player and three strong competitors' continues.
Pickup exports: In November, pickup exports reached 0.019 million units, a year-on-year increase of 30%, with the industry's export proportion remaining high. From January to November 2024, pickups accounted for 45% of total sales in pickups, reaching 43% in November, showing good improvement in China's independent pickup exports. As an international model, pickups have become the strongest category in China's export of Commercial Vehicles.
Comprehensive evaluation: In the past two years, the production shortages of international car manufacturers have created a significant supply-demand gap, which has laid the foundation for Chinese pickup exports overseas and has driven continuous growth in Chinese pickup exports since 2022. From January to November this year, pickup exports still showed strong year-on-year growth, with some pickup companies seizing export opportunities to achieve substantial increases, such as Anhui Jianghuai Automobile Group Corp.,Ltd., Chongqing Changan Automobile, Great Wall Motor, and SAIC Maxus, all of which have large export scales, with exports accounting for more than half of their respective total pickup sales.
