China's Sinotruk expects 2008 sales up 30%

Shanghai, June 13 (Gasgoo.com) Chinese heavy-duty truck maker Sinotruk achieved nearly half of its output and sales goal of 2008 in the first five months, and expects its 2008 sales to rise 30%, state media quoted a senior executive as saying yesterday.

Following its sales of more than 100,000 heavy trucks in 2007, Sinotruk sold 63,000 such vehicles in January to May 2008, up 45% year on year, with a 59.3% increase of sales revenue. Both production and sales have reached nearly half of the targets of this year and created new high records. Sinotruk aims to sell at least 130,000 heavy-duty vehicles in 2008.

In the recent peak months, the average monthly sales of Sinotruk vehicle has hit 15,000 units, which means that it will be easy for the heavy-truck maker to achieve its sales goal this year and that Sinotruk has gained the lion's share of China's market of 14-ton-plus heavy trucks. 

Sinotruk would raise its product prices if steel prices continued climbing. Raw materials prices had risen more than 10% since March. Truck price increases is likely to undermine sales, given China's continued economic growth and infrastructure rebuilding in the devastating earthquake-hit areas.

Shandong-based Sinotruk (Hong Kong) Ltd, ranked among the world's five biggest truck makers alongside Volvo, Daimler and Isuzu, aims to boost maximum capacity to more than 20,000 per month in 2009.