​Sinotruk sees remarkable sales performance in 2024

China National Heavy Duty Truck Group, also known as Sinotruk, achieved remarkable sales growth in 2024, with its total revenue projected to surpass 194 billion yuan ($27.23 billion), a year-on-year increase of over 10 percent.

Wang Zhijian, chairman of Sinotruk, announced the company's performance at the 2025 Sinotruk Partner Conference, held in Jinan, Shandong province, on Dec 8.

Despite pressures bought on by a sluggish domestic industry and slowing global demand, Sinotruk has joined forces with its partners to capture a greater market share, secure orders, and ensure deliveries, with its outstanding performance making it the industry leader. The company maintained its top position in heavy-duty truck sales, market share, and exports in domestic market, according to Wang.

Sinotruk displays its cutting-edge vehicles at 2025 Sinotruk Partner Conference. [Photo/provided to english.jinan.gov.cn]

The 2025 Sinotruk Partner Conference, with the theme "We Are One", set up exhibition areas displaying products across various sectors, including new energy, long-haul transport, and express delivery.

A total of 79 vehicles were displayed, highlighting the company's advanced technologies and cutting-edge products. These products featured a diverse range of models, including heavy-duty trucks, light trucks, dump trucks, and buses, as well as components such as engines, axles, powertrains, and autonomous driving systems.

In 2024, Sinotruk accelerated its expansion in the global market, strategically enhancing its overseas supply chain. The company is expected to export 135,000 heavy-duty trucks this year, with export revenue reaching 45.1 billion yuan. It has seen rapid growth in high-end markets, with exports to Saudi Arabia rising by 74 percent year-on-year and exports to Australia increasing by 98 percent year-on-year.

According to Wang, Sinotruk now operates 29 KD (knock-down) plants, 4 registered subsidiaries, 226 distributors, 246 service centers, and 217 spare parts networks globally.

In 2024, the company invested 3.1 billion yuan in research and development. Five new energy vehicles were unveiled at the partner conference, as part of the company's efforts to eye clean energy and sustainable development.

Wang also announced the company's 2025 target at the conference to achieve 450,000 vehicle sales, aiming for a year-on-year growth rate of over 20 percent.