China’s medium truck market, after six consecutive months of year-on-year decline, rebounded in September and October, posting two months of growth. By the end of October, cumulative sales for 2025 were still down 6% compared with 2024.

In November, the market maintained its positive momentum. Medium truck sales reached 9,613 units, up 15% year-on-year, marking the third consecutive month of growth.

Data from the China Association of Automobile Manufacturers (CAAM) show that total truck sales—including chassis and tractor units—hit 338,400 units in November, up 9% from October and 26% year-on-year. Medium trucks accounted for 9,613 units, down 24% from October but up 15% from November 2024. Although year-on-year growth was lower than October’s 45%, the overall upward trend remained intact.

Looking at the past five years, November medium truck sales have followed a “decline-decline-growth-decline-growth” pattern. Only November 2021 exceeded 10,000 units. November 2025’s 9,613 units rank second in the five-year period, about 1,200 units higher than last year. From January to November 2025, cumulative medium truck sales totaled 110,400 units, ranking third in the past five years—down roughly 53,600 units from 2021 and 5,500 units from 2024.

So far in 2025, only six months saw monthly sales exceed 10,000 units, with an average just above that mark. By the end of November, cumulative sales were down 5% year-on-year, slightly improving from a 6% decline in October. The final month of 2025 will determine whether the market can end the year on a growth note.

Leading Companies: FAW TRUCKS Holds Top Spot, BYD Surges

In November, seven of the top medium truck manufacturers saw sales increase, while three experienced declines.

Top performers: Sinotruk (+27%), Dongfeng (+129%), BYD (+585%), Qingling (+98%), Sanhuan (+117%), SHACMAN (+126%), all outpacing the overall market growth.

FAW TRUCKS increased slightly by 3%, below the market average.

Largest decline: One company’s sales fell 72% year-on-year.

Market share for the top ten companies reached 98.89%, with the top five accounting for 79.04%. FAW TRUCKS led the pack with 2,521 units (26.22%), followed by Sinotruk (15.10%), JAC (13.94%), Dongfeng (12.94%), and BYD (10.83%). Qingling, Foton, Sanhuan, and SHACMAN each sold over 200 units, ranking sixth to ninth, while other companies sold fewer than 100 units.

January–November 2025: BYD, SHACMAN, and FARIZON Double Sales

From January to November, medium truck cumulative sales reached 110,400 units, down 5% year-on-year, slightly improving from a 6% decline in October.

Companies doubling sales: BYD (+151%), SHACMAN (+198%), FARIZON (+208%).

Strong performers: FAW TRUCKS (+34%), Sinotruk (+55%), Dongfeng (+49%), Qingling (+36%).

Declining companies: All fell by double digits, with the worst down 67%.

Cumulative market share shows four companies exceeding 10,000 units:

FAW TRUCKS 36,900 units (33.42%)

JAC 15,700 units (14.22%)

Sinotruk 14,300 units (12.96%)

Dongfeng 12,200 units (11.08%)

Foton ranked fifth with 7.56%, bringing the top five’s combined share to 79.24%. Qingling was sixth (7.14%), BYD seventh (6.90%), followed by SHACMAN, FARIZON, and NanJun (2.17%, 1.37%, 0.92%).

Compared with last year, FAW TRUCKS, Sinotruk, Dongfeng, Qingling, BYD, SHACMAN, and FARIZON all increased their market shares. The most notable gains went to FAW TRUCKS (+9.62 pp), Sinotruk (+4.98 pp), BYD (+4.28 pp), and Dongfeng (+3.99 pp).

November 2025 marked a 15% year-on-year growth for the medium truck segment, achieving a third consecutive month of increase. By the end of November, cumulative sales were down 5%, with the decline narrowing 10 percentage points over September–November. Compared with 2024, about 5,500 fewer units were sold. How the market will close out 2025 remains to be seen.

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