From January to May 2020, with the solid promotion of resuming work, production, commerce, and market in China, both domestic production and demand showed a month on month improvement trend. After the two sessions, the "six guarantees" and "six stability" policies were intensively introduced and implemented, and the marginal improvement trend of the domestic economy continued.

From January to May 2020, China sold a total of 1.676 million commercial vehicles, a year-on-year decrease of 2.2%. Among them, 1.57 million trucks were sold, a year-on-year decrease of 0.1%, and 106000 buses were sold, a year-on-year decrease of 25.9%.

From January to May 2020, the sales of specialized vehicles in China reached 584000 units, a year-on-year decrease of 1.3%. Among them, the sales of logistics specific vehicles reached 428000 units, a year-on-year increase of 3.5%, with a market share of 73.4%, an increase of 3.4 percentage points compared to the same period in 2019; The sales of engineering specific vehicles reached 62000 units, a year-on-year decrease of 10.4%, with a market share of 10.6%, a decrease of 1.1 percentage points compared to the same period in 2019; The sales of homework specific vehicles reached 93000 units, a year-on-year decrease of 13.9%, with a market share of 15.9%, a decrease of 2.3 percentage points compared to the same period in 2019.

Sales volume of specialized vehicles in the market from 2014 to May 2020

From the monthly sales trend, from January to March 2020, the sales of construction vehicles experienced a significant decline due to the impact of the epidemic and Spring Festival factors.

After April, as the epidemic gradually came under control, production and business activities resumed in an orderly manner, construction began on construction sites, and local governments increased their efforts to eliminate old cars. Under the influence of various factors, market sales rebounded significantly, with a year-on-year increase of 23.0% in April and 49.3% in May.

Monthly sales volume of specialized vehicle market from 2019 to May 2020

The market for engineering specialized vehicles is mainly dominated by mixer trucks and cranes, with a share of 88.8% from January to May 2020.

From the perspective of segmented vehicle models (see Figures 3 and 4), due to the impact of the epidemic, from January to May 2020, the sales of mixer trucks, cranes, road engineering vehicles, oil well engineering vehicles and other specialized engineering vehicles all declined, with only pump truck sales showing year-on-year growth.

Market structure of engineering vehicles from January to May 2020

From the monthly sales trend, from January to March 2020, due to the impact of the epidemic and Spring Festival factors, construction sites were affected, and the sales of construction vehicles decreased significantly year-on-year.

4. In May, the epidemic was brought under control, and construction projects began in various regions. The demand for construction vehicles returned to normal. At the same time, in order to stimulate economic growth, a large number of infrastructure projects began construction in various regions, resulting in a significant increase in the sales of construction vehicles.

Performance of Engineering Vehicles in Various Segmented Markets from January to May 2020

From the perspective of competition among enterprises in the engineering specific vehicle market, the market concentration of the top 10 engineering vehicle sales enterprises is 79.3%, an increase of 3.9 percentage points from 2019. From January to May 2020, a total of 213 enterprises achieved sales, with an average sales volume of 292 vehicles per enterprise, and 12 enterprises sold over 1000 vehicles.

Among the top 10 companies in terms of sales, XCMG Group, Anhui Hualing, CIMC Lingyu, Tanghong Heavy Industry Special Vehicles, and Tangshan Yate saw a year-on-year decline in sales