Overview of Internal Combustion Engine Industry Sales in March 2024
In the golden March, the sales volume of the internal combustion engine industry increased significantly, with a slight year-on-year increase from January to March.
In March, the country introduced policies for equipment updates and trade in of consumer goods, and various regions actively responded by introducing corresponding implementation plans. Coupled with the promotion activities of enterprises, the sales of internal combustion engines in the market increased significantly in March, with slight year-on-year and cumulative year-on-year growth. Specifically, the sales volume of internal combustion engines in March was 4.3162 million units, a month on month increase of 71.96% and a year-on-year increase of 2.58%; The cumulative sales volume from January to March was 10.9171 million units, a year-on-year increase of 5.09%.
In terms of terminals, the passenger car market continues to maintain a good momentum, commercial vehicles continue to slowly recover, and the sales situation in agricultural machinery, engineering and other markets remains severe.
Overall Sales Overview
In March, sales of internal combustion engines reached 4.3162 million units, a month on month increase of 71.96% and a year-on-year increase of 2.58%; The power output reached 272.8545 million kilowatts, a month on month increase of 71.72% and a year-on-year increase of 1.23%.
The cumulative sales volume from January to March was 10.9171 million units, a year-on-year increase of 5.09%; The cumulative power has reached 6769.12 million kilowatts, a year-on-year increase of 3.29%.
Classification of fuel types
In March, sales of diesel and gasoline engines significantly increased compared to the previous month in the fuel category, while sales of diesel engines decreased year-on-year and cumulatively, while sales of gasoline engines increased year-on-year and cumulatively. Specifically, compared to the previous month, diesel engines increased by 69.89% and gasoline engines increased by 72.16%; Compared with the same period last year, diesel engines increased by -10.82% year-on-year, and gasoline engines increased by 4.77% year-on-year; Compared with the same period last year, diesel engines increased by 4.05% year-on-year, and gasoline engines increased by 6.46% year-on-year.
In March, diesel internal combustion engines sold 544300 units (including 18500 units for passenger cars, 220200 units for commercial vehicles, 95600 units for construction machinery, 170300 units for agricultural machinery, 5600 units for ships, 32200 units for power generation, 1200 units for landscaping, and 700 units for general use), and gasoline internal combustion engines sold 3.7662 million units. From January to March, the sales volume of diesel engines was 1.3483 million units (including 39000 units for passenger cars, 550100 units for commercial vehicles, 226600 units for construction machinery, 427400 units for agricultural machinery, 14500 units for ships, 86000 units for power generation, 2000 units for landscaping, and 2800 units for general use), and the sales volume of gasoline internal combustion engines was 9.5577 million units.
Market usage by market
In March, in the comparable caliber of the segmented market, all segmented uses increased month on month. Specifically, passenger car usage increased by 81.92%, commercial vehicle usage increased by 54.07%, construction machinery usage increased by 85.59%, agricultural machinery usage increased by 60.18%, marine usage increased by 37.30%, generator usage increased by 83.01%, garden machinery usage increased by 35.30%, motorcycle usage increased by 70.78%, and general machinery usage increased by 77.67%.
Compared with the same period last year, the use of passenger cars, agricultural machinery, and motorcycles increased year-on-year, while the use of other categories decreased year-on-year. Specifically, passenger car usage increased by 4.75%, commercial vehicle usage increased by 9.51%, construction machinery usage increased by -16.61%, agricultural machinery usage increased by 1.20%, marine usage increased by -31.99%, generator set usage increased by -3.27%, garden machinery usage increased by -24.68%, motorcycle usage increased by 9.52%, and general machinery usage increased by -7.76%.
Compared with the previous year, all other classified uses except for engineering, marine, power generation, and landscaping have shown positive growth. Specifically, passenger car usage increased by 3.49%, commercial vehicle usage increased by 2.37%, construction machinery usage increased by -12.72%, agricultural machinery usage increased by 8.05%, marine usage increased by -21.81%, generator usage increased by -11.81%, garden machinery usage increased by -12.95%, motorcycle usage increased by 12.79%, and general machinery usage increased by 8.81%.
In March, sales of passenger cars were 1.7693 million units, commercial vehicles were 261300 units, construction machinery was 100200 units, agricultural machinery was 471500 units, ships were 5600 units, generators were 139800 units, garden machinery was 136500 units, motorcycles were 1.4188 million units, and general machinery was 13200 units.
From January to March, a total of 4.2901 million units were sold for passenger cars, 666900 units for commercial vehicles, 241700 units for construction machinery, 1.2694 million units for agricultural machinery, 14500 units for ships, 342600 units for generator sets, 392700 units for garden machinery, 3.6531 million units for motorcycles, and 46100 units for general use.
The main varieties are sorted by orderMulti cylinder application situation
Single cylinder diesel engine
The sales volume of single cylinder diesel engines in March increased month on month, but both year-on-year and cumulative year-on-year decreased. In March, sales of single cylinder diesel engines reached 87300 units, a month on month increase of 91.57% and a year-on-year increase of -21.45%; The cumulative sales volume from January to March was 222800 units, a year-on-year increase of -16.46%. The top five companies in the ranking are: Changchai, Changfa, Sanhuan, Laidong, and Jinfeiyu.
Among them, the sales volume of single cylinder diesel engines mainly used in the field of agricultural machinery in March was 79800 units, an increase of 89.64% month on month and a year-on-year increase of -19.45%; The cumulative sales volume from January to March was 201500 units, a year-on-year increase of -14.44%.
multi-cylinder diesel engine
The commercial vehicle market experienced high month on month growth in March, as well as year-on-year and cumulative year-on-year growth, leading to similar fluctuations in sales in the multi cylinder diesel engine market where commercial vehicles account for a large proportion.
In March, multi cylinder diesel engine companies sold a total of 457100 units, a month on month increase of 66.29% and a year-on-year increase of -8.45%; The cumulative sales volume from January to March was 1.1255 million units, a year-on-year increase of -1.14%. Weichai, Yuchai, Yunnei, Quanchai, Jiangling, Xinchai, Jiefang Power, Dongkang, Fukang, and Shanghai New Power ranked among the top ten in sales, accounting for 77.12% of the total sales of multi cylinder diesel engines; Market share: Weichai 18.34%, Yuchai 10.84%, Yunnei 9.03%, Quanchai 8.21%, Jiangling 6.64%, Xinchai 6.09%, Jiefang Power 5.55%, Dongkang 5.01%, Fukang 4.09%, Shanghai New Power 3.33%.
In March, the sales volume of multi cylinder diesel engines for commercial vehicles was 220200 units, a month on month increase of 60.99% and a year-on-year increase of -1.93%. The cumulative sales volume from January to March was 550100 units, a year-on-year increase of 8.74%. The top ten in sales are Weichai, Jiangling, Yunnei, Yuchai, Fukang, Jiefang Power, Dongkang, Jianghuai, Quanchai, and Oukang Power, with the top ten accounting for 90.26% of total sales; Weichai holds a leading market share of 22.07% in the commercial vehicle multi cylinder diesel engine market, followed by Jiangling 13.59%, Yunnei 10.51%, Yuchai 8.91%, Fukang 8.37%, Jiefang Power 7.01%, Dongkang 5.44%, Jianghuai 5.04%, Quanchai 4.83%, and Oukang 4.48%.
In March, the sales volume of multi cylinder diesel engines for construction machinery was 95100 units, a month on month increase of 90.95% and a year-on-year increase of -14.38%; The cumulative sales volume from January to March was 224500 units, a year-on-year increase of -11.65%. The top ten sellers are New Diesel, Quanchai, Weichai, Yunnei, Yuchai, Dongkang, Caterpillar, Jiefang Power, Guangkang, and Shanghai New Power, accounting for 97.05% of their total sales.
Multi cylinder gasoline engine
The passenger car market experienced high month on month growth in production and sales in March, with year-on-year and cumulative year-on-year growth. As a result, the sales of multi cylinder gasoline engines in the main supporting passenger car market also showed a similar trend.
In March, the sales of multi cylinder gasoline engines reached 1.7885 million units, a month on month increase of 79.59% and a year-on-year increase of 3.07%; The cumulative sales volume from January to March was 4.3631 million units, a year-on-year increase of 2.64%. Among 45 multi cylinder gasoline engine companies, Chery, FAW Volkswagen, Geely, Changan Automobile, BYD, Honeycomb Power, Beijing Benz, Guangfeng Engine, Dongfeng Motor Co., Ltd., and BMW Brilliance Automotive rank among the top in terms of sales, accounting for 61.32% of the total sales. Among the companies with high sales volume, Chery, Geely, BYD, and Honeycomb Power have shown outstanding cumulative sales growth.
The proportion of passenger cars used in multi cylinder gasoline engines was 97.43%, with sales of 1.7508 million units in March, a month on month increase of 81.63% and a year-on-year increase of 4.78%; The cumulative sales volume from January to March was 4.2511 million units, a year-on-year increase of 3.62%. Chery, FAW Volkswagen, Geely, Changan Automobile, BYD, Honeycomb Power, Beijing Benz, Guangfeng Engine, Dongfeng Motor Co., Ltd., and BMW Brilliance are among the top sellers.
Small gasoline engine
The industry mainly engages in import and export trade, which is significantly affected by internal and external environmental factors. In comparable caliber, the sales of small gasoline engines in March showed a significant month on month increase, a slight year-on-year and cumulative year-on-year increase. In March, the sales volume of small gasoline engines was 718800 units, a month on month increase of 47.59% and a year-on-year increase of 0.16%; The cumulative sales volume from January to March was 2.0097 million units, a year-on-year increase of 7.52%. The top five companies in terms of sales are Longxin, Runtong, Huasheng, Lifan Internal Combustion Engine, and Suzhou Shuangma.
In the supporting agricultural machinery, the sales volume in March was 301200 units, a month on month increase of 54.37% and a year-on-year increase of 15.05%. Accumulated sales from January to March were 842000 units, a year-on-year increase of 19.53%
In the field of supporting garden machinery, sales in March were 135300 units, a month on month increase of 34.19% and a year-on-year increase of -25.01%; The cumulative sales volume from January to March was 390800 units, a year-on-year increase of -13.03%.