95,000 units! Heavy-duty truck sales rose 10% month-on-month in September, driven by exports and new energy vehicles.

According to preliminary data from First Commercial Vehicle Network, approximately 95,000 heavy-duty trucks were sold in my country in September 2026 (based on wholesale figures, including exports and new energy vehicles). This represents a month-on-month increase of about 10% compared to August but a year-on-year decline of approximately 10%. This marks the fourth time this year that heavy-duty truck sales have dropped year-on-year, as well as the first time such a decline has persisted for three consecutive months.

Monthly Sales Trends of my country's Heavy-Duty Truck Market (2020–2026) (Unit: Vehicles)

From January to September this year, the cumulative sales volume of my country's heavy-duty truck industry reached approximately 926,000 units—a year-on-year increase of about 13%—though the overall growth rate continued to decelerate.

"Golden September," typically a peak sales season, failed to trigger the anticipated market rebound. What changes occurred in the heavy-duty truck market during September? How did exports and new energy heavy-duty trucks perform?

◆ Slight month-on-month recovery; market remains under pressure

In terms of sales volume, the heavy-duty truck market showed some recovery in September compared to July and August, yet figures remained down on a year-on-year basis.

Annual Sales Trend of my country's Heavy-Duty Truck Industry (2015–2026) (Unit: 10,000 vehicles)

The market rebounded month-on-month in September; seasonal shifts led to improved logistics and transport demand compared to the traditional off-season of the preceding two months, thereby unlocking some vehicle purchasing demand. However, overall domestic market demand remained weak; depressed freight rates and pressure on vehicle operating returns continued to dampen user willingness to purchase.

Meanwhile, the high sales base from the same period last year also impacted year-on-year performance this September. As the population of China IV-compliant trucks gradually declines, the incremental stimulus from "trade-in" policies has weakened. Furthermore, the market is still absorbing the surge in purchasing demand that occurred prior to the implementation of AEBS regulations, and the inventory clearance process is not yet complete. Additionally, rising prices for traditional fossil fuels (diesel and LNG) led to significant year-on-year declines in sales across segments such as LNG and diesel heavy-duty trucks.

Due to the convergence of these factors, while the heavy-duty truck market saw a month-on-month recovery in September, the overall rebound was limited, and the "Golden September" peak season failed to fully live up to its name.

◆ Exports maintain growth; overseas markets continue to drive incremental volume

With the domestic market under pressure, exports remain a crucial pillar of support for the heavy-duty truck industry.

In September, driven by demand from markets such as Africa, Latin America, and Central Asia, China's heavy-duty truck exports continued to grow, with an estimated year-on-year increase of approximately 21%.

In recent years, Chinese heavy-duty truck manufacturers have continuously expanded into overseas markets, steadily enhancing their product competitiveness and market reach. Rising demand from abroad has created new growth opportunities for the domestic heavy-duty truck industry, while also alleviating some of the pressure caused by sluggish domestic demand.

Against the backdrop of a cyclical adjustment in the domestic market, export performance remains a key area to watch.

◆ Sales of new energy heavy-duty trucks rebound; market growth momentum continues

In September, the new energy heavy-duty truck market emerged from the seasonal slowdown experienced over the previous two months; sales returned to high levels, marking a significant highlight for the heavy-duty truck sector that month.

Data indicates that terminal sales of new energy heavy-duty trucks in September are estimated to have exceeded 33,000 units—an increase of nearly 40% year-on-year and a rise of over 20% month-on-month. Compared to the average monthly sales of approximately 26,000 units seen in July and August, the market performance in September showed marked improvement.

Regarding the pace of growth, the new energy heavy-duty truck market saw rapid expansion in the second quarter of this year; however, growth slowed in the third quarter due to factors such as the concentrated release of earlier demand and the impact of the traditional off-season. Additionally, as sales volumes during the same period last year were already rising, year-on-year growth rates this year have been influenced by the changing base figures.

Nevertheless, sales performance in September indicates that the new energy heavy-duty truck market maintains strong growth momentum. With users increasingly focused on vehicle operating costs and the continuous expansion of application scenarios, the market holds significant potential for further development.

◆ Market trends for the fourth quarter warrant continued attention

Overall, while the heavy-duty truck market rebounded month-on-month in September, it still declined year-on-year, as the stimulus effect of the traditional peak season has not yet fully materialized.

Continued growth in export markets and a rebound in new energy heavy-duty truck sales have provided vital support to the industry. Meanwhile, domestic logistics demand, user operating returns, and demand shifts resulting from earlier policies will continue to influence future market performance.