Wholesale Sales of Pickup Trucks in China Rise 18.8% YoY in November 2025

Stock News12-15

In November 2025, China's pickup truck market recorded wholesale sales of 56,000 units, marking an 18.8% year-on-year increase and a 16.8% month-on-month growth, reaching a five-year high. From January to November 2025, cumulative wholesale sales stood at 537,000 units, up 12.1% YoY.

Production in November 2025 reached 52,000 units, rising 8% YoY, maintaining a mid-to-high level over the past five years. Cumulative production from January to November totaled 527,000 units, reflecting a 14.5% YoY increase.

Great Wall Motor Company Limited (601633) continued to dominate the pickup truck segment, demonstrating steady performance both domestically and internationally. Supported by sustained export growth, other strong performers included Changan Automobile, SAIC Maxus, JAC Motors, and Zhengzhou Nissan.

In the domestic retail market, Great Wall Motor's pickup trucks, Jiangling Motors, Zhengzhou Nissan, Radar Auto, and Jiangxi Isuzu maintained solid sales, reinforcing the "one leader, multiple strong competitors" landscape.

The primary demand for pickup trucks remained concentrated in southwestern and northwestern regions, accounting for 45% of total demand in November 2025. Meanwhile, sales in Beijing, Tianjin, Shanxi, and Hebei provinces were relatively weaker.

As the growth of new energy pickup trucks slowed, their contribution to the market lagged behind that of electric logistics vehicles.

Exports: In November 2025, China exported 32,000 pickup trucks, surging 54% YoY and 19% MoM. From January to November, exports reached 268,000 units, up 22% YoY. Exports accounted for 57% of total pickup sales in November 2025 and 52% for the first 11 months, highlighting strong growth in overseas shipments of Chinese-brand pickups.

New energy pickups: Wholesale sales of new energy pickups in November 2025 reached 8,000 units, soaring 152% YoY and 40% MoM. Cumulative sales from January to November hit 67,000 units, up 335% YoY, significantly outpacing the overall pickup market growth.

Following the surge in demand for electric light trucks, electrification has become a key driver for commercial vehicles to gain road access rights. With the parallel development of electrification and passenger-oriented designs, the pickup truck market's growth potential continues to improve.

In November 2025, BYD's pickup exports reached 3,594 units, while Geely's Radar electric pickup sales stood at 2,057 units. Changan's extended-range pickup sales totaled 898 units, and Zhengzhou Nissan sold 853 units. Other manufacturers also contributed to the new energy pickup segment.

With the domestic new energy pickup market gaining momentum, China's pickup truck industry is expected to expand rapidly to meet growing domestic and international demand.

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