In December 2025, the sales volume of the heavy truck industry increased by more than 10% year-on-year, and achieved a good result of 1.137 million vehicles and a year-on-year increase of 26% for the whole year. What is the market performance of major domestic heavy-duty truck companies in 2025? Has there been any new change in the competitive landscape?

In December, the sales of heavy-duty trucks reached 95000 units, with a cumulative total of over 1.13 million units sold throughout the year

According to the latest data from First Commercial Vehicle Network, in December 2025, China's heavy-duty truck market sold a total of about 95000 vehicles (wholesale caliber, including exports and new energy), a decrease of about 16% month on month and an increase of about 13% compared to the same period last year's 84200 vehicles. Looking at the whole year of 2025, China's heavy-duty truck market has achieved nine consecutive increases, from April to December, with an average growth rate of 41%.

Looking at the past eight years, 95000 units were sold, which is lower than the 110000 units sold in December 2020 and slightly higher than the sales volume in December 2019. Overall, in 2025, the total sales volume of China's heavy-duty truck market reached a new high of 1.137 million units, a year-on-year increase of about 26%.

Monthly Sales Trend Chart of China's Heavy Truck Market from 2019 to 2025 (Unit: Vehicles)

The year-on-year growth rate of wholesale sales in the heavy-duty truck market by the end of 2025 has narrowed, partly due to a relatively high sales base of 84200 vehicles in the same period last year - mainly driven by the trade in of old National III trucks in the fourth quarter of 2024; On the other hand, stimulated by the 2025 National III and IV trade in policy for operating trucks, the total sales volume of the industry exceeded 1.1 million vehicles throughout the year, and most mainstream heavy-duty truck companies achieved their annual sales targets quite well. Therefore, in December, some mainstream heavy-duty truck manufacturers "hid sales" and kept some wholesale sales until the first quarter of 2026 to ensure a "good start".

In December 2025, China's heavy truck exports also maintained steady growth, with an expected year-on-year increase of nearly 20%. In 2025, the export sales of heavy trucks in China are expected to reach around 330000 units, setting a new historical high.

In December 2025, the sales of heavy-duty truck terminals in China will also experience a "narrowing" trend. In December, the terminal sales volume of the domestic heavy-duty truck market is expected to increase by about 11% year-on-year; In 2025, the sales volume of domestic heavy-duty truck terminals is expected to approach 800000 units, an increase of over 30% year-on-year, which is the best performance in the past four years.

From the perspective of major sub sectors, as the policy of exchanging old for new old operating trucks approaches the end of the year, coupled with the early purchase effect brought about by the halving of the purchase tax reduction for new energy vehicles from January 1, 2026, the terminal sales of new energy heavy trucks in the last month of 2025 will reach a new high (even "explosive"), with an overall sales volume expected to exceed 37000 units, a year-on-year increase of more than 1.4 times. The industry penetration rate in a single month is expected to be close to 50%, and both monthly sales and penetration rates have broken historical records. And this sales record is likely to last until at least early 2027 or even the first half of 2027. After a leap like "carp jumping over the dragon gate" in December, the domestic sales of new energy heavy-duty trucks are expected to reach around 224000 units in 2025, a year-on-year increase of more than 1.7 times and a net increase of 140000 units compared to the same period last year's 82000 units; The penetration rate of electrification has increased from 13.6% in 2024 to 28% in 2025, which is equivalent to more than doubling the penetration rate.

Let's take another look at gas heavy-duty trucks. In December 2025, the sales volume of domestic gas heavy-duty truck terminals has declined compared to the previous month, with an expected decrease of nearly 40%. The year-on-year growth rate has further narrowed to about 26%, and the domestic penetration rate is expected to be around 16%. In 2025, the domestic sales of natural gas heavy-duty trucks are expected to approach 200000 units, a year-on-year increase of about 11%. The penetration rate of gasification is expected to be about 25%, which is lower than the 29.6% in the same period last year.

Heavy Duty Truck exceeds 22000 vehicles, Dongfeng ranks second, Foton/XCMG skyrockets

In December 2025, China's heavy-duty truck market experienced nine consecutive increases. How did several mainstream heavy-duty truck companies perform in terms of sales?

According to data from the First Commercial Vehicle Network, in the December heavy-duty truck "qualifying race", China National Heavy Duty Truck Group continued to hold the sales championship with 22000 vehicles; Dongfeng's sales have entered the top two; Futian and XCMG have the highest growth rates. Companies that outperform the market year-on-year include Heavy Duty Truck Group, Foton, and XCMG. Cumulatively, the companies that achieved year-on-year growth in market share for the whole year of 2025 are mainly Foton and XCMG.

Specifically, China National Heavy Duty Truck Group sold over 22000 heavy-duty trucks in December, a year-on-year increase of about 15%, maintaining its industry-leading sales volume; Its cumulative sales from January to December were about 304000 vehicles, a year-on-year increase of about 24%, with a market share of about 26.7%, and both export sales and total sales remained in the first place.

FAW Jiefang sold about 16000 heavy-duty trucks in December, and from January to December 2025, the cumulative sales of Jiefang heavy-duty trucks will be about 216000, a year-on-year increase of about 18%, with a market share of about 19%, maintaining the top two in the industry in cumulative sales.

Dongfeng Corporation (including Dongfeng Commercial Vehicles, Dongfeng Liuqi Chenglong, etc.) sold about 19000 heavy trucks in December, ranking among the top two in the industry, with a year-on-year growth of about 9%; From January to December 2025, Dongfeng Motor Corporation has sold approximately 182500 heavy-duty trucks of various types, a year-on-year increase of approximately 26%, with a market share of approximately 16%.

Shaanxi Automobile Group (including Shaanxi Automobile Heavy Truck, Shaanxi Automobile Commercial Vehicle, etc.) sold about 15000 heavy trucks in December, a year-on-year increase of about 12%; From January to December 2025, Shaanxi Automobile Group sold about 179200 heavy-duty trucks of various types, a year-on-year increase of about 19%, and its market share is basically on par with Dongfeng.

Beiqi Foton sold about 11000 heavy-duty trucks in December, a year-on-year increase of about 113%, ranking first among mainstream enterprises in terms of growth rate; From January to December 2025, BAIC Foton has sold approximately 142400 heavy-duty trucks of various types, a year-on-year increase of about 104%, with a market share of about 12.5%, a year-on-year increase of about 4.8 percentage points.

XCMG, with new energy heavy-duty trucks as its main force, sold approximately 5500 units of various types of heavy-duty trucks in December, a year-on-year increase of approximately 67%; Its cumulative sales from January to December were about 40100 vehicles, a year-on-year increase of about 90%, and its market share was about 3.5%, an increase of about 1.2 percentage points. Jianghuai Automobile will sell approximately 700 heavy trucks in December 2025, with a cumulative sales of nearly 13000 vehicles from January to December, and a market share of approximately 1.1%.

Conclusion

In 2025, China's heavy-duty truck market will close with nearly 1.14 million vehicles, delivering a good "report card".

In 2026, the policy of exchanging old trucks for new ones has been confirmed to continue and the subsidy will not decrease. However, considering the certain overdraft of the heavy truck market caused by the policy of exchanging old operating trucks for new ones in 2025, the heavy truck market is expected to show a slight decline domestically and a steady growth in exports in 2026.