Summarize：According to the latest statistics released by China Association of Automobile Manufacturers (CAAC), China sold 54,000 units buses in December, up by 34.4% month on month, but down by 13.6% year on year. For the whole year of 2021, China sold 505,000 units buses, up by 12.6% year on year. For the detailed monthly sales volume, please refer to the Table 1 below.
Table 1. China’s Bus Monthly Sales Volume in 2021
| |
Jan. |
Feb. |
Mar. |
Apr. |
May |
Jun. |
Jul. |
Aug. |
Sept. |
Oct. |
Nov. |
Dec. |
| 2021 |
36,000 |
24,000 |
52,000 |
47,000 |
46,000 |
53,000 |
38,000 |
37,000 |
39,000 |
39,000 |
40,000 |
54,000 |
| 2020 |
27,800 |
7,884 |
31,000 |
38,500 |
38,100 |
43,000 |
32,000 |
34,400 |
43,000 |
43,000 |
48,000 |
62,500 |
| Growth rate |
30.1% |
204.4% |
68.0% |
22.1% |
23.1% |
23.5% |
16.4% |
6.6% |
-8.9% |
-8.8% |
-16.5% |
-13.6% |
From Table 1, it clearly shows that the bus market maintained a fairly robust growth in the first eight months in 2021 and the growth was primarily due to the growing demand for light buses. However, the market witnessed negative growths in the last four months of the year due to the slowing down of the China’s economy. Also, it is shown that December’s bus sales hit a record high for 2021 as bus operators were trying to take full advantage of the governments’ favorable financial policies for putting more new energy buses on the road.
For the detailed information of the sales volume of commercial vehicles in China in 2021, please refer to Table 2 below.
Table 2 China’s Sales of Commercial Vehicles in 2021
| |
buses |
trucks |
commercial vehicles |
| Sales in Dec. |
54,000 |
311,000 |
364,000 |
| Growth rate in Dec. |
-13.6% |
-21.2% |
-20.1% |
| Sales in 2021 |
505,000 |
4,288,000 |
4,793,000 |
| Growth rate in 2021 |
12.6% |
-8.5% |
-6.6% |
For the detailed information of the sales volume of large-, medium- and light buses in China in 2021, please refer to Table 3 below. From the table, it clearly indicates that only the light bus sector witnessed robust growth in 2021, which can be mainly attributed to the following four reasons: 1) customers bought diesel powered light buses with National V Emissions Standards in the first half of 2021 as China started to implement National VI Emission Standards on July, 1; 2) electric logistic vehicles were in high demand against China’s drive for carbon peaking and carbon neutralization; new policies rolled out by government has been favorable for the growth of light buses; 4) the market demand for light buses has been growing.
Table 3 China’s Sales of Large-, Medium- and Light Buses in 2021
| |
Large-sized buses |
Medium-sized buses |
Light buses |
Total |
| Sales in 2021 |
48,000 |
46,000 |
411,000 |
505,000 |
| Sales in 2020 |
57,000 |
47,000 |
344,000 |
448,000 |
| Growth Rate |
-15.4% |
-3.1% |
19.4% |
12.6% |
Table 5 reveals the percentage of sales of buses with different power drivelines.
Table 5 Percentage of Sales of Buses with Different Power Drivelines
| |
Large-sized buses |
Medium-sized buses |
Light buses |
| Diesel |
47.0% |
43.6% |
53.6% |
| Gasoline |
2.7% |
11.6% |
40.8% |
| New energy |
49.8% |
44.7% |
5.6% |
| Other power |
0.5% |
0.1% |
0.0% |
Table 6 Top Five Market of Large-sized Buses in China
| |
Market |
Market Share |
| 1 |
Jiangsu |
9.4% |
| 2 |
Guangdong |
9.2% |
| 3 |
Henan |
8.8% |
| 4 |
Shandong |
8.5% |
| 5 |
Sichuan |
7.4% |
| Total percentage |
|
43.3% |
Table 7 Top Five Market of Medium-sized Buses in China
| |
Market |
Market Share |
| 1 |
Henan |
9.6% |
| 2 |
Guangdong |
9.5% |
| 3 |
Jiangsu |
8.9% |
| 4 |
Shandong |
8.7% |
| 5 |
Hunan |
7.5% |
| Total percentage |
|
44.2% |
Table 8 Top Five Market of Light Buses in China
| |
Market |
Market Share |
| 1 |
Guangdong |
15.5% |
| 2 |
Jiangsu |
9.8% |
| 3 |
Zhejiang |
9.5% |
| 4 |
Shandong |
8.9% |
| 5 |
Henan |
7.2% |
| Total percentage |
|
50.9% |
