Heavy truck concept stocks rose collectively. As of press release, Sinotruk (03808) rose 5.13% to HK$16.38; Weichai Power (02338) rose 3.88% to HK$13.4; Zhonglian Heavy Industry (01157) rose 2.43% to HK$4.21; and CIMC (01839) rose 1% to HK$6.07.
The Zhitong Finance App learned that heavy truck concept stocks rose collectively. As of press release, Sinotruk (03808) rose 5.13% to HK$16.38; Weichai Power (02338) rose 3.88% to HK$13.4; Zhonglian Heavy Industry (01157) rose 2.43% to HK$4.21; and CIMC (01839) rose 1% to HK$6.07.
According to news, in October 2023, China's heavy truck market sales volume was about 80,000 units, an increase of 60% over 48,000 vehicles in the same period last year. From January to October of this year, China's heavy truck market sold a total of 787,000 vehicles, up 38% from the previous year, exceeding the sales volume of 670,000 vehicles for the whole year of last year. Market participants believe that, driven by factors such as a resurgence in demand for heavy logistics trucks, combined with exports maintaining a strong momentum, the recovery situation in the heavy truck industry is obvious. Meanwhile, according to the current production and sales situation, sales volume in the fourth quarter will increase compared to the third quarter.
Southwest Securities expects the overall sales volume of the heavy truck industry to reach 950,000 units in 2023. As the domestic natural gas heavy truck sector continues to be prosperous and mainstream heavy truck companies actively explore key overseas markets, the heavy truck industry will maintain a recovery trend in the future, and the performance of leading targets is highly certain.