The heavy-duty truck market, particularly for vehicles over 8 tons, has seen a dramatic shift this year, with the so-called "Big Two"—Liberation and Dongfeng—experiencing their most challenging period in recent memory. From January to May, their combined market share fell below 50%, a sharp contrast to the 83% they held in 2000. This decline marks a turning point in the industry.
In contrast, the rise of the “Steyr†group—comprising Zhongqi, Shaanxi Auto, Beiqi Foton, and Hongyan—has been remarkable. These companies have seen average sales growth of 30% to 40% over the past few years, capturing a total market share of 46.91%. Just a few years ago, their combined presence was barely double digits. The rapid ascent of these companies is not just a result of competition, but a reflection of broader market trends.
The era of quasi-heavy trucks (those between 8 to 15 tons) is fading. In 2000, quasi-heavy trucks accounted for 84.8% of the market, while full heavy trucks (over 15 tons) made up just 15.2%. By 2005, that ratio had shifted to 6:4, and this year it’s expected to be nearly 5.2:4.8. This trend aligns with global automotive development, where the focus is shifting toward larger, more powerful trucks.
In the West, quasi-heavy trucks occupy only a small portion of the market, with most demand filled by light-duty trucks and large heavy trucks. China is following a similar path. As a result, the decline of the Big Two is not just a business challenge—it’s an inevitable shift toward a more balanced truck market, with both light and heavy segments growing.
The surge in the 15-ton and above heavy truck segment can be attributed to stricter regulations since 2004, which limited illegal overloading. These policies pushed the market toward heavier, more powerful vehicles. Subsequent toll-by-weight reforms further weakened the quasi-heavy truck sector, as users found it increasingly difficult to justify purchasing lighter models. Consumers are now more rational, favoring high-capacity, heavy-duty trucks.
Steyr’s journey began in 1989 with the introduction of its first 15-ton heavy truck. However, during that time, the market was small, demand was limited, and prices were too high. This led to poor performance for Sinotruk at the time. Now, with those obstacles removed, Steyr's resurgence is natural. The key driver behind this change is the full replacement and upgrade of the heavy truck market.
The competition between the Big Two and Steyr has become intense, resembling a seesaw effect—when one rises, the other falls. Liberation has launched the "Aowei" model to target the 15-ton market, while Dongfeng Commercial Vehicle introduced the "Dragon" series. Meanwhile, Steyr is expanding aggressively through sales channels, with CNHTC aiming to reach 2,000 dealers and service stations in two to three years. Shaanxi Auto, Foton, and Weichai have formed a strategic alliance to strengthen their market presence. Hongyan is also accelerating joint ventures and expanding into previously underserved regions like East China.
As the market becomes more competitive, the Big Two face a tough road ahead. While they are working to rejuvenate, the current environment favors the rising Steyr group, making their comeback a complex and challenging task.
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