CIMC Vehicles Retains Top Spot in the Global Semi-Trailer ...
CIMC Vehicles Leads Global Semi-Trailer Market
September 25, 2023
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In the first half of this year, CIMC Vehicles' North American business continued to thrive, surpassing expectations with revenues totaling 6.234 billion yuan, reflecting a notable year-on-year increase of 34.67%. Additionally, the company’s North American operations marked a significant milestone by delivering new energy refrigerated semi-trailers to local clients, setting a new industry benchmark.
Exceptional Growth in the European Market
Operating under the prominent brands "SDC" and "LAG," CIMC Vehicles has established itself at the forefront of the European tank trailer market, known for its high commercial value, fuel efficiency, and lightweight design. The first six months of this year saw the European division's revenue rise by 28.12% year-on-year, reaching 1.63 billion yuan. This growth, coupled with a 1.81% increase in gross profit margin, is attributed to a stable global supply chain and strategic transcontinental operations.
Expanding Horizons in Emerging Markets
Capitalizing on the “Belt and Road” initiative, CIMC Vehicles is making significant strides in emerging markets, including Southeast Asia, the Middle East, South Africa, and Central America. By expanding its international presence and adapting to incremental demand, the company is experiencing rapid growth and seizing high-growth opportunities in these regions.
September 25, 2023, China, Recently, the notable semi-trailer publication, Global Trailer, unveiled its 2023 ranking of the world's top 50 semi-trailer manufacturers by production volume. CIMC Vehicles emerged as the leading manufacturer, producing nearly 152,000 units, making it the only Chinese company to secure a place on this list. Dominating the top spot for eleven straight years since 2013, CIMC Vehicles continues to set industry standards.
In the domestic market, the company has integrated production and manufacturing resources, significantly boosting market share, sales, and profits. CIMC Vehicles has become a benchmark for supply-side reforms in the Chinese semi-trailer industry, exemplifying high-quality development and operational efficiency. Internationally, their forward-looking strategies have led to the establishment of six overseas 'lighthouse' factories, enhancing production efficiency and setting the stage for remarkable international performance. In the first half of this year, CIMC Vehicles' North American business continued its growth momentum, exceeding expectations with revenues of 6.234 billion yuan, a year-on-year increase of 34.67%. At the same time, CIMC Vehicles' North American business successfully delivered new energy refrigerated semi-trailers to local customers, setting an industry benchmark for new energy refrigerated semi-trailers.
In the European market, CIMC Vehicles operates under the renowned brands "SDC" and "LAG," ranking at the forefront of the European tank trailer market due to its high commercial value, low fuel consumption, and lightweight product performance. In the first half of this year, the European business saw a 28.12% year-on-year increase in revenue, reaching 1.63 billion yuan, with a 1.81% increase in gross profit margin, benefiting from a stable global supply chain system and advantages in transcontinental operations. In emerging markets, with the advancement of the "Belt and Road" initiative and China's comprehensive strategy to expand its commercial vehicle presence internationally, there is significant growth potential for semi-trailers. CIMC Vehicles is actively seizing opportunities for high growth in emerging market businesses, expanding its presence in Southeast Asia, the Middle East, South Africa, Central America, and other regions, continuously exploring incremental demand, and achieving rapid growth.
Source: www.chinaspv.com
Editor: Rosy
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