83%, 45.7%, this is the forecast increase in the sales of heavy trucks and excavator products in March. The reporter learned from the industry that, driven by the infrastructure and real estate industries, sales of construction machinery products will continue to grow.
Heavy truck sales set a new historical record
According to the preliminary data obtained by the First Commercial Vehicle Network, in March, my country's heavy truck market is expected to sell about 220,000 vehicles of various types, a substantial increase of 86% month-on-month and 83% year-on-year.
The sales volume of 220,000 sets a new historical record for the heavy-duty truck market in March, which is more than 70,000 more than the previous record in March 2019 (148,800).
This is also the 12th consecutive month that the heavy-duty truck market has set a record. From April 2020 to March 2021, the monthly sales volume of the heavy-duty truck market has set a new monthly sales record, creating a new monthly sales record. The historical record of monthly sales volume in the global heavy truck industry has once again been refreshed.
Cumulative sales in the first quarter exceeded 520,000. In the first half of the year, the sales volume of the heavy truck industry has been unstoppable. It is expected to hit 1.4 million vehicles throughout the year, exceeding market expectations.
Three reasons drive the growth of heavy truck sales
Industry insiders believe that there are three reasons for the surge in heavy truck market sales in March.
First of all, sales were lower during the same period. In March last year, the epidemic had not yet dissipated, the demand for logistics and transportation car purchases was still in the depressed stage, and the supply chains and production of many heavy truck and component companies had not fully recovered. This also led to the sales volume of only 120,000 vehicles in the same period last year; in March this year, the production and sales of the heavy truck industry and enterprises were at full production and sales. March this year and the same period last year can be said to be a scene of "two days of ice and fire."
Secondly, terminal demand in the heavy-duty truck market started quickly. At present, the demand for car purchases in most key regions during the traditional peak season has already started. Heavy truck dealers of different brands have received orders from customers after the Lantern Festival have increased to varying degrees. Heavy truck users are more motivated to purchase vehicles. Among them, there are reasons for the start of engineering transportation and logistics transportation, which promotes the increase in demand for car purchases, and the reason for worrying about the sharp increase in car purchase prices after the implementation of the National VI in the second half of the year.
Third, companies are striving to compete in the market in the first half of the year. Since the National VI emission regulations for heavy diesel vehicles will be fully enforced from July 1 this year, almost all companies believe that they must fight for a good start and the market in the first half of the year. Each company's terminal promotion and channel distribution are unprecedented. . The heavy-duty truck company's competitive strategy and strategic approach of "strengthening the army and fighting every inch of the earth" created sufficient conditions for the sales volume in March to hit a new high and set a new global record.
Excavator exports increased by 78.7%
According to data, the expected sales volume of excavators in March is about 72,000 units, a year-on-year increase of about 45.7%.
Among them, domestic sales are expected to be about 67,000 units, a year-on-year increase of about 43.8%; export sales are expected to be about 5,000 units, a year-on-year increase of about 78.7%.
Pacific Securities believes that small excavators have always accounted for the highest sales share of all types of excavators, accounting for more than 60%, especially small and micro excavators under 6 tons. In terms of benchmarking overseas, due to its artificial substitution properties, it can be applied to various small-scale projects and agricultural activities, and the application scenarios continue to expand. It is expected that the number of small and micro-digging markets will continue to grow in the future.
In addition, in December 2020, the Ministry of Ecology and Environment announced that starting from December 2022, the fourth phase of emission standards for non-road mobile machinery will be implemented. Dongguan Securities believes that environmental protection upgrades are expected to speed up the replacement of existing stocks. According to the excavator service life of about 8 to 10 years, it is estimated that the potential renewal demand range from 2021 to 2023 is 86,000 to 135,000 units/year.
Dongguan Securities believes that the subsequent infrastructure and real estate industries are expected to support excavator sales to maintain high growth, and demand for excavators remains strong. It is recommended to pay attention to the leading construction machinery industry.
Zheshang Securities believes that the completion of real estate and infrastructure investment has increased rapidly, and the demand for construction machinery is strong, and it continues to recommend construction machinery leaders. Pay more attention to the low-value, high-growth, high-quality segment leaders in the machinery industry.
