On the morning of March 1st, the “SINOTRUK, Winning with the World” ceremony for the dispatch of SINOTRUK’s 14,000th heavy-duty truck export in February 2024 took place in the Jinan Comprehensive Free Trade Zone. At 10 AM, 50 lavishly decorated SINOTRUK heavy-duty trucks, led by the Shandeka C7H, smoothly rolled out of the gates of the Jinan Comprehensive Free Trade Zone, successfully clearing customs. This milestone marks the successful export of over 14,000 heavy-duty trucks in a single month by SINOTRUK, setting a new domestic record for monthly heavy-duty truck exports by a single company and establishing a new milestone for China’s heavy-duty truck industry abroad.
So, how did SINOTRUK achieve exporting 14,000 heavy-duty trucks in one month?
First, let’s review SINOTRUK’s recent performance. In 2023, SINOTRUK Group achieved a total revenue of RMB 173.1 billion, a 44% increase over 2022, with a total profit of RMB 7.5 billion, up 191% year-over-year. The industrial added value reached RMB 19.1 billion, marking a 42% increase, with total vehicle sales amounting to 335,000 units, up 36% from the previous year, securing the top position in China’s heavy-duty truck sales for the second consecutive year.
Moreover, the export of products to overseas markets has played a significant role in propelling SINOTRUK to industry leadership. In 2023, SINOTRUK exported 130,000 heavy-duty trucks, a 47% increase over the previous year, achieving export revenues of RMB 42.9 billion, a 55% year-over-year increase, setting a new historical record. This achievement represents nearly half of the heavy-duty truck exports in the Chinese market, solidifying SINOTRUK as the top global single-brand in heavy-duty truck sales and positioning it as a pioneer in advancing into the mid-to-high-end global markets, ready to compete head-on with top international brands.
These record-breaking achievements are backed by SINOTRUK’s continuous “forward-looking R&D” efforts. While many domestic heavy-duty truck manufacturers are still focusing on exporting lower-end models, SINOTRUK has significantly increased its R&D investments, establishing a comprehensive “forward-looking R&D” process. Its products and technologies remain at the forefront, with an increasing share of high-end heavy-duty trucks being exported each year.
In 2023, the export volume of SINOTRUK’s high-end products exceeded 41,000 units, a growth of over 300% compared to the previous year, firmly establishing it as China’s undisputed leader in commercial vehicles on the global stage. This success reflects the advantages of the restructuring and reform efforts between Shandong Heavy Industry Group and SINOTRUK over the past five years. A series of reform and innovation initiatives, including three major system reforms, auxiliary and main separation reforms, marketing system reforms, independent forward-looking R&D, and a global commercial vehicle strategy, have significantly enhanced SINOTRUK’s competitiveness and cyclical resilience.
As of now, SINOTRUK has developed around 300 dealership networks across over 90 countries globally and established nearly 600 service and parts centers in over 110 countries. These networks support logistical systems worldwide, enhancing the SINOTRUK brand globally and showcasing the strength of Chinese brands to the world.
At the ceremony, the Chief of Jinan Customs, Liu Wei, stated that SINOTRUK’s continuous record-breaking heavy-duty truck exports are a testament to the historical milestones created by SINOTRUK’s export operations. Looking ahead, Customs will spare no effort in providing excellent service to SINOTRUK, facilitating all customs clearance operations to help the company achieve greater success on the international stage.
This consistent record-breaking is a microcosm of Shandong Heavy Industry Group’s global outreach. In the first two months of this year, the group achieved an export revenue of RMB 15.4 billion, a 27% year-over-year increase. Its subsidiaries, including SINOTRUK, Shaanxi Heavy-duty Truck, Weichai Group, Shantui Shares, and Zhongtong Bus, have all made historic breakthroughs in exports. Specifically, Zhongtong Bus saw a 201% increase in exports, excavators a 87% increase, and agricultural equipment a 47% increase, reflecting a comprehensive blossoming of the group’s international business and a significant acceleration in its globalization process.
