New energy commercial vehicles performing outstandingly

The commercial vehicle market is recovering, with new energy commercial vehicles performing outstandingly, At the beginning of 2025, the domestic commercial vehicle market presented a thriving scene Data from the National Financial Services Bureau's Compulsory traffic insurance shows that domestic sales of commercial vehicles reached 280,000 units in April. Although it decreased by 10% month-on-month, it increased slightly by 0.1% year-on-year. In terms of cumulative sales, the cumulative sales from January to April exceeded 1 million units, with a year-on-year increase of 4%. This is a significant rise compared to 970,000 units in the same period of 2023, setting a new historical high since 2022.

In the commercial vehicle market, the growth trend of new energy commercial vehicles is particularly remarkable. In 2024, the sales volume of new energy commercial vehicles reached 579,000 units, representing a year-on-year growth of 84%. In 2025, this growth momentum remained strong. In April, sales reached 70,000 units, representing a year-on-year increase of 53% and a month-on-month increase of 1%. Under the influence of the policy carry-over effect at the end of 2024, the cumulative sales of new energy commercial vehicles in the first four months of 2025 have reached 220,000 units, representing a year-on-year growth of 59%.

From the perspective of vehicle model structure, both the truck and bus markets maintain a stable development trend. In the truck market, light trucks perform very outstandingly; After a deep adjustment last year, medium and heavy-duty trucks have witnessed structural improvement this year, and the driving effect of the scrapping and renewal policy is gradually emerging. In the bus market, the trend of electrification for light buses is obvious and they are gradually replacing micro buses to become the main force in the market. Large and medium-sized buses performed weakly at the beginning of the year, but the trend of fuel-powered large and medium-sized buses was stable, and new energy large and medium-sized buses were also constantly exploring and developing

In terms of energy structure, the commercial vehicle market shows a diversified characteristic. The penetration rate of new energy commercial vehicles is constantly increasing, among which pure electric models stand out particularly. Plug-in hybrid models are almost impossible to find in the commercial vehicle market. Hydrogen energy commercial vehicles mainly rely on subsidies to boost sales, and their overall performance is average. However, the electrification of commercial vehicles has become an irreversible major trend. Extended-range products are also constantly being explored and are expected to bring new growth points to the market in the future.