China’s commercial vehicle market continued its recovery in November 2025, with total sales rising 24% year on year, according to industry data. Truck sales increased 26%, slightly outperforming the broader commercial vehicle market.

As the largest and most competitive segment within the truck sector, the light truck market drew close attention, particularly with only one month left in the year.

Light Truck Sales Reach 179,500 Units in November

Data from the China Association of Automobile Manufacturers (CAAM), based on manufacturer invoice figures rather than retail sales, showed that China sold 338,400 trucks in November, up 9% from October and 26% from a year earlier.

Light trucks—including light-duty trucks, small trucks and pickups—accounted for 179,500 units. This marked an 11% month-on-month increase and a 7% rise year on year, extending the segment’s streak of year-on-year growth to ten consecutive months.

Despite the continued expansion, light trucks underperformed the overall truck market. In November, heavy-duty trucks and mini trucks posted strong year-on-year growth of 65% and 48%, respectively. Medium-duty truck sales rose 15%, while light trucks grew at a slower pace than the overall truck market average.

From January to November, total truck sales increased 10% year on year, while cumulative light truck sales rose 6%, lagging behind the broader market. After outperforming earlier in the year, light truck growth has weakened over the past three months.

November Performance Within Historical Norms

November is not typically a peak month for truck sales in China. Over the past decade, light truck sales in November have generally averaged around 150,000 units, with moderate fluctuations.

November 2025 sales ranked third highest for the month over the past ten years and remained below the record level set in November 2020, indicating a stable but not exceptional performance.

Cumulative light truck sales from January to November reached 1.82 million units, ranking third over the past decade and slightly above historical averages. The market recorded year-on-year growth for ten consecutive months from February to November, adding around 100,000 units compared with the same period last year.

Foton Maintains Lead as Nine Brands Exceed 10,000 Units

At the manufacturer level, nine automakers reported monthly light truck sales above 10,000 units in November, two more than in October.

Foton remained the market leader, selling 37,000 units and holding a 20.6% market share. Changan, Great Wall, JAC, JMC, Dongfeng, Yuejin, Geely Farizon and Sinotruk also surpassed the 10,000-unit mark. XinYuan Auto ranked tenth with sales of just over 8,000 units.

The top ten manufacturers accounted for more than 87% of total light truck sales in November, underscoring the market’s high level of concentration.

JMC and Yuejin Move Up as Most Automakers Post Growth

Among the top ten manufacturers, eight recorded year-on-year growth in November. Several brands, including Changan, JAC, JMC, Yuejin, Geely Farizon, Sinotruk, XinYuan, BYD and Jiangxi Isuzu, grew faster than the overall market average.

Yuejin and BYD posted the strongest gains, with sales rising 142% and 70%, respectively.

While the list of the top ten manufacturers remained unchanged from October, rankings shifted. JMC moved up to fifth place, and Yuejin rose to seventh, while Foton retained its leading position.

January–November Sales Exceed 1.8 Million Units

From January to November 2025, cumulative light truck sales reached 1.82 million units, up 6% year on year.

Foton led the market with more than 403,000 units sold and a 22% market share. Changan, Great Wall, JAC and Dongfeng each recorded sales exceeding 150,000 units. JMC, Geely Farizon and Sinotruk all surpassed 100,000 units during the period.

Geely Farizon and BYD stood out in cumulative growth, with year-on-year increases of 54% and 338%, respectively. Several manufacturers also gained market share compared with the same period last year.

Light Trucks Still Lag the Broader Market

Compared with year-end 2024 rankings, only Foton, JMC and Sinotruk maintained their positions, while most other manufacturers shifted either up or down.

Although the light truck market has now recorded ten consecutive months of year-on-year growth, it has underperformed the broader truck market since June. From January to November, cumulative growth in the light truck segment remained four percentage points below overall truck market growth.

With December still ahead, it remains uncertain whether light trucks can close the gap before the end of the year.

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