Four dimensions tell you, how much will China's commercial vehicle industry return in 2022?

In addition to the transition to new energy, internationalization is another important development direction. When the domestic market demand is declining, the overseas market has become an important profit growth point for commercial vehicle enterprises.

Taking Yutong Bus, a leading bus company, as an example, its performance has declined since 2017. The operating income from 2017 to 2020 is 33.222 billion yuan, 31.746 billion yuan, 30.492 billion yuan and 21.705 billion yuan respectively, and the net profit attributable to the mother is 3.129 billion yuan, 2.301 billion yuan, 1.94 billion yuan and 520 million yuan respectively.

After winning the bid for the 1.8 billion yuan project of Qatar World Cup service vehicles, Yutong's performance rebounded in 2021. This year, Yutong Bus achieved revenue of 23.233 billion yuan, an increase of 7.04%; Net profit attributable to shareholders of listed companies was 614 million yuan, up 18.95% year-on-year. In the first three quarters of this year, Yutong Bus achieved operating income of 13.113 billion yuan, down 16.28% year-on-year; Net profit of 131 million yuan, although down 50% year-on-year, but has outperformed the industry's general loss of performance.

Commercial vehicle exports are developing rapidly. China Automobile Association data show that in October 2022, China's commercial vehicle exports of 59,000 units, an increase of 15.5% month-on-month, an increase of 77.5% year-on-year; From January to October, China exported 480,000 commercial vehicles, an increase of 43%.

There are also opportunities in the crisis, as the epidemic prevention and control has eased, major commercial vehicle companies are trying to steer the future direction of development.