Emissions escalation drives price rises Light-duty card market shuffles again

Emissions escalation drives price rises Light-duty card market shuffles again

The current downturn in the light truck market is widespread, with only a few brands managing to escape its impact. While some manufacturers have continued to sell older State III models, many others are struggling. When reporters visited the market, they found that high-end brands like Jiangling have maintained stable sales, with March figures showing a slight increase compared to the same period last year. In contrast, second- and third-tier brands have experienced sharp declines, with some reporting a drop of up to 50% compared to last year. A few brands sold fewer than ten units in March, highlighting the growing polarization within the industry. Industry experts attribute this trend to three main factors. First, the broader economic environment has had a significant impact, including tight monetary policies and rising fuel and steel prices. Second, brand quality and product line diversity play a key role—some brands have shorter State III product lines, leaving them vulnerable during transitions. For example, in Shenzhen, some brands still lack State III vehicles, leading to declining sales. Third, the cost of upgrading to State III technology has led to price hikes, pushing some customers back to older, non-State III models from regions where the regulation hasn’t been implemented yet. Jiangling’s sales increased by about 6% in March, helping it gain market share. This success is due to its strong customer base, early adoption of State III models, and effective marketing campaigns like the "High-end Light Bulb Popularity Storm." Its Shunda Europe III model has also contributed significantly to sales. In Guangdong and Shenzhen, Jiangling's market share rose by 3% and 2%, respectively, reaching 24.5% in Shenzhen. JAC, on the other hand, has quickly moved into the high-end segment with its Shuai Ling II series, achieving a growth rate of around 10%. However, some models saw price drops due to supply chain issues, causing temporary shortages in the Shenzhen market. Meanwhile, Foton and Liberation have raised prices to offset rising steel costs, with Liberation increasing its prices by 5,000 yuan and Foton by 2,000 yuan for most models. Dongfeng and Yuejin are accelerating their transition to State III standards. Dongfeng recently launched a new generation of National III-compliant trucks, aiming to reverse its declining market position. Yuejin, now part of Nanjing Iveco, is set to introduce more advanced Euro III models in Shenzhen, leveraging Iveco’s technology to compete more effectively with top brands. The used light truck market has seen a surge in demand as new models become too expensive for budget-conscious buyers. Many low-end models have nearly disappeared, with prices rising to around 80,000 yuan. As a result, consumers are turning to the secondary market, where older trucks can still be sold at previous price levels. A growing concern in the market is the emergence of fake State III models. Some dealers are selling Euro II engines labeled as Euro III, which poses serious environmental and legal risks. Experts advise checking for common rail systems, verifying engine numbers, and seeking written guarantees from dealers. Consumers should also be wary of “State II to State III” products, which are often false and not compliant with regulations.

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