Market differentiation obvious: Yutong Bus New Energy sales increased 9 percent

Posted on 3/31/2015 5:38:46 PM

March 30 afternoon, Yutong Bus (600066.SH) released the 2014 earnings report shows that in 2014 achieved revenues of 25.728 billion yuan Yutong Bus, an increase of 15.90%, of which attributable to shareholders of listed companies net profit of 2.613 billion yuan, an increase of 15.45%.
Earnings that the downturn in the industry environment, Yutong to achieve a total sales of 61,398 passenger cars, an increase of 9.51%, including new energy bus sales rose 90.02 percent, boosting the Yutong revenue growth. During the reporting period, under the background of weak domestic passenger car market, new energy Yutong Bus rapid market growth, the company sold a total of 7405 new energy buses, electric buses which sold over 1400.
Market differentiation is increasingly clear
According to the China Statistical Information Network data bus, 2014 year, the total sales volume of domestic and medium-sized passenger cars fell 6.2%, but the market demand is increasingly obvious structural differentiation.
According to industry demand, the passenger car market can be broken down into the domestic market road passenger transport, city buses, school buses and other markets and overseas markets. In the past a very long time, road passenger transport has been one of China's major passenger transportation, the average annual passenger traffic of 86% of total passenger traffic, passenger turnover accounted for about 40% of total turnover.
In recent years, large-scale investment by high-speed rail operators, as well as countries in the long-distance road passenger transport increased regulatory scrutiny and other factors, highway passenger demand a certain decline in the domestic long-distance road passenger car sales continued to decline. However, to benefit from the strong development of public transport and the promotion of new energy vehicles policy, transit bus market to achieve a slight increase year on year. With the upgrading of the level of urbanization and the government's financial capacity, as well as influence national policy to promote new energy products, bus market into the rapid growth phase, the current bus market has accounted for more than 40% of the passenger car market.
In addition, from 2008, the Chinese passenger car exports has maintained steady growth, according to the statistical analysis of China Association of Automobile Manufacturers, in 2014, 83,900 passenger cars were exported, an increase of 28.05 percent, an increase of 18.55 percentage points higher than the same period last year, exports then the proportion of sales accounted for 14.69 percent, 2.76 percentage points higher than the previous year, exports of the country from 2013 to 155 144 increase.
Market share to the advantage of business focus
Currently, the overall passenger car industry competition is more stable, relatively few new entrants. Brands which mainly consists of Yutong, Jinlong Department, together accounted for more than 50% market share in the industry, in addition to a certain scale manufacturers outside the presence of domestic manufacturers to a large number of annual sales of less than 1000's. By adjustment of the market structure, market share and further to the advantage of business focus on the trend.
With Yutong, for example, in 2014, the "National electric bus electric control and safety engineering technology research center" once again settled in the passenger car business, which makes resources and technology to the enterprise in research and development of new energy vehicles can be obtained by continuing to strengthen, with competitors The gap between is further enhanced. 2014 Yutong new energy bus sales rose 90.02 percent, of which pure electric passenger car sales over 1400, the company expects 2015 sales will increase further. In the whole of the large passenger market downturn environment, the company's 2014 annual and medium-sized domestic passenger car sales rose 4.6 percent, higher than the industry growth in total sales, higher than major competitors.
In addition, the advantages of business in the overseas market experience and reputation to promote their business also continued to strengthen. After the 2008 world financial crisis, China maintained a passenger in the overseas market steadily, and have a more significant improvement in export species, exports and other aspects of cycling. Also in this period, as the representative of China to the Yutong bus companies seasonal rise overtake passenger car sales since 2011 after. Yutong is four consecutive annual sales ranked first in the world to become the world's largest passenger car sales of single-plant companies.
With the implementation of "all the way along the" national strategy, China exported buses also of concern, from the perspective of the development of China's auto industry, the bus industry has been its overseas markets, where growth model.
Currently, the total annual demand in overseas markets about 250,000 passenger cars, buses and Chinese export enterprises are mainly concentrated in Asia, Africa and other underdeveloped regions. But it is in these areas, China's passenger car business has gradually mastered the market opportunities in Cuba, for example, since 2005, 12 Yutong Bus became the first Chinese passenger car sold in Cuba. Up to now, the Cuban market Yutong population reached 4497, models covering many areas of urban buses, long-distance passenger car, car workers, school vehicles, coaches, etc., accounting for more than 90 percent of Cuba's imports of passenger car market.

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