China’s commercial vehicle market continued its expansion in April 2026, with total sales approaching 400,000 units, up 8% year-on-year.

The truck segment grew 7% year-on-year, slightly below the overall commercial vehicle market.

Among all segments, light trucks recorded the weakest performance and remained the main drag on overall industry growth.

Light truck sales fall 2% to 178,100 units in April

According to the China Association of Automobile Manufacturers (CAAM), China’s total truck market reached 344,000 units in April 2026, down 22% month-on-month but up 7% year-on-year.

The light-duty truck segment (including light trucks, small trucks and pickups) posted sales of 178,100 units, down 24% month-on-month and down 2% year-on-year.

This marks a reversal from March, when the segment grew 4% year-on-year. In the traditional “Silver April” peak season, the light truck market recorded declines on both a monthly and yearly basis.

Light trucks remain the main drag on the market

In April 2026, total truck sales rose 7% year-on-year, slowing from 12% in March.

By segment:

Heavy trucks: +33% (strongest performer and only segment outperforming the market)

Medium trucks: +5%

Light trucks: -2%

Micro trucks: -12%

Both light and micro trucks weighed on overall industry performance.

For January–April 2026, China’s total truck market grew 8% year-on-year, unchanged from the level after March. However, the light truck segment declined 3% year-on-year, continuing to underperform the broader industry.

Is 178,100 units a weak performance?

Despite the year-on-year decline, April sales are not weak in historical terms.

Over the past decade, April is typically a peak season for trucks, with light truck sales usually ranging between 150,000 and 200,000 units.

In the past ten years:

6 years fell within 150,000–200,000 units

2 years exceeded 200,000 units

2 years were below 150,000 units

At 178,100 units, April 2026 remains within the normal range and ranks fifth highest for the month in the past decade.

For January–April 2026, monthly rankings were:

January: 4th highest in 10 years

February: 6th

March: 2nd

April: 5th

Compared with the strong “Golden March,” April was significantly weaker. Overall, the 2026 light truck market effectively saw a strong “Golden March” but no meaningful “Silver April.”

January–April sales at 689,000 units, down 3%

Excluding the abnormal 2020 period, China’s light truck market typically records 550,000–700,000 units in the January–April period.

In 2026, cumulative sales reached 689,000 units, still within the normal range and ranking third highest in the past decade.

However, the market trend was volatile across the first four months: growth, decline, growth, and decline.

After April, cumulative sales were down 3% year-on-year, representing about 18,500 fewer units than the same period last year.

Seven companies exceed 10,000 units; Foton leads with 20%+ share

In April 2026, seven manufacturers sold more than 10,000 light trucks, two fewer than in March.

Foton maintained its leadership position with 36,800 units sold, holding a 20.7% market share.
Sales Overview of Major Light Truck Manufacturers (Including Mini Trucks and Pickup Trucks) in April 2026 (Unit: Vehicles)

Dongfeng ranked second with 17,800 units, followed by Great Wall with 17,100 units.

Changan, Farizon, JAC, and JMC ranked fourth to seventh, with sales of:

Changan: 14,600 units

Farizon: 14,400 units

JAC: 14,100 units

JMC: 11,800 units

Their market shares ranged between 6.6% and 8.2%.

The top ten companies together accounted for 83.9% of the market, while the top five held 56.5%.

Changan and Farizon grow against the trend

Among the top ten manufacturers:

2 posted year-on-year growth

8 recorded declines

Expanding to the top 12, only 3 companies achieved growth.

Growth leaders included:

Changan: +14%

Farizon: +9%

Chery: slight growth

Most declining companies saw single-digit losses, although three recorded double-digit declines. The weakest performer fell 34% year-on-year.

Farizon enters top five as rankings shift

While the top ten composition remained unchanged, rankings shifted notably:

Great Wall rose one place to third

Farizon climbed three places to fifth

Nanjing Iveco (Yuejin) moved up one place to eighth

Foton, Dongfeng, and Shineray(ranked 10th) maintained their positions.

January–April: market down 3%, but select companies grow

For January–April 2026, the light truck market declined 3% year-on-year.

However, several companies posted growth:

Foton: +1%

Dongfeng: +16%

Farizon: +14%

Yuejin: +18%

At the same time, many manufacturers saw double-digit declines, with the weakest falling 40% year-on-year.

Market share gains led by Dongfeng and Farizon

Compared with the same period in 2025:

Dongfeng: +1.7 percentage points

Yuejin: +1.0 pp

Farizon: +0.9 pp

Foton: +0.8 pp

JMC: +0.2 pp

Several other companies lost share, with the largest decline close to 2 percentage points. JAC and Sinotruk were broadly stable year-on-year.

Outlook: when will recovery begin?

April light truck sales of 178,100 units declined 2% year-on-year, failing to achieve growth during the “Silver April” peak season.

After April, the cumulative market remained down 3% in 2026.

The key question for the industry is when the light truck segment will return to sustained growth.

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