China’s commercial vehicle market continued to grow in October 2025. Overall sales rose 21% year-on-year, with trucks slightly ahead at 22%. Light trucks—including small trucks and pickups—remain the largest and most competitive segment within the truck market.

October Sales: 161,700 Units, Ninth Straight Month of Growth

According to the China Association of Automobile Manufacturers (CAAM), light truck sales reached 161,700 units in October. This was up 0.2% from September and 0.3% from October last year, marking the ninth consecutive month of year-on-year growth for the segment.

Light Truck Sales, October, 2016–2025 (Units in 10,000)

All truck categories posted gains in October. Heavy trucks jumped 60%, medium trucks 45%, and mini trucks 65%, all above the overall truck market growth of 22%. Light trucks were the only segment to lag behind. From January to October, truck sales rose 8% year-on-year, while light trucks grew 6%, slightly below the overall market. Earlier in the year, from January to August, light trucks had outperformed the total market slightly, showing that this year’s “Golden September and Silver October” peak was not as strong as usual.
Light Truck Sales, Jan.-October, 2016–2025 (Units in 10,000)

Historical Context: Performance in Normal Range

October is typically a peak month for truck sales. Over the past decade, light truck sales in October generally hovered around 150,000 units. This year’s 161,700 units rank fourth in the past ten years, comfortably within the normal range but below the 2020 peak. From January to October 2025, cumulative light truck sales reached 1.644 million units, up 6% from the same period last year. This is about 88,100 more units than in 2024, ranking third in the past ten years.

Top Performers: Seven Companies Break 10,000 Units in October

Seven companies sold more than 10,000 light trucks in October:

Foton: 38,000 units

Changan: 15,600 units

Great Wall: 14,100 units

JAC: 13,700 units

Dongfeng: 12,900 units

FARIZON: 12,000 units

Jiangling: 11,000 units

The 8th–10th ranked companies—Sinotruk, Yuejin, and XinYuan—each sold over 6,000 units. Together, the top ten accounted for 87.7% of the market, while the top five held 58.4%.

Six of the top ten companies saw year-on-year growth in October, while four declined. Expanding to the top 12, seven companies grew and five fell. Fastest-growing companies included Changan (+24%), Great Wall (+9%), JAC (+19%), FARIZON (+14%), Sinotruk (+32%), Yuejin (+46%), and BYD (+128%), all outperforming the overall market growth of 0.3%.

Cumulative Sales: Top Seven Surpass 100,000 Units

From January to October 2025, cumulative light truck sales hit 1.644 million units, up 6%. Company-level cumulative sales were:

Foton: 366,200 units (22.3%)

Changan, Great Wall, JAC, Dongfeng: each over 140,000 units (9.2%, 9.1%, 8.9%, 8.7%)

Jiangling, FARIZON: over 100,000 units (6.6%, 6.1%)

Sinotruk: nearly 90,000 units (5.5%)

Yuejin, XinYuan: over 70,000 units (4.8%, 4.6%)

In cumulative growth, FARIZON (+57%) and BYD (+428%) led the market, while Sinotruk (+25%) and Yuejin (+28%) also exceeded the overall 6% growth. Some companies grew slower than average, and a few experienced declines, with the largest drop at 44%.

Market Share Shifts

Compared with 2024, FARIZON, Sinotruk, Yuejin, and BYD increased their market shares. FARIZON and BYD rose 2.0 and 1.7 percentage points, while Sinotruk and Yuejin gained 0.85 points each. Foton retained the top spot, and Jiangling and Sinotruk held steady. Other companies saw minor rises or falls.

Summary

In October, China’s light truck market sold 161,700 units, up 0.3%, marking the ninth consecutive month of growth. From January to October, cumulative sales rose 6%, about 88,100 more units than last year. The market remains stable, though the traditional peak season did not generate strong growth. The streak of consecutive gains will be interesting to watch in the coming months.

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