Ma Chunji directs changes in commercial vehicles

In a similar fashion to how Steyr became a pivotal name in the commercial vehicle industry 25 years ago, Jinan has once again emerged as the focal point of China's commercial vehicle sector. The recently unveiled "Automotive Industry Adjustment and Revitalization Plan" — commonly referred to as the "Rejuvenation Plan" — highlights the role of Sinotruk, China National Heavy Duty Truck Group, as the designated "national team." As the sole commercial vehicle company selected for this status, Sinotruk is set to play a central role in guiding the industry’s restructuring efforts under government support. After surpassing 50 billion yuan in sales revenue in 2008, Chairman Ma Chun-chi emphasized that the global financial crisis has prompted deep structural adjustments and industrial upgrades, offering valuable opportunities for reorganization and growth. Sinotruk has expressed willingness to participate in these industry-wide changes, aligning itself with the national vision for development. Following the introduction of Steyr technology and subsequent internal divisions, including conflicts with Weichai Power, Sinotruk has once again taken on the role of an industry reorganizer. Behind this move lies strong policy support, signaling a potential shift in the commercial vehicle landscape. Looking ahead, the question remains: will bus companies also be part of this reorganization? Given Sinotruk’s key role in regional consolidation, Weichai Power — once a subsidiary and competitor — is now back in the spotlight. According to the Revitalization Plan, Sinotruk, like BAIC, GAC, and Chery, is encouraged to pursue regional mergers and acquisitions. In Shandong Province, Weichai Power is closely tied to Sinotruk, having once shared a deep, upstream-downstream relationship. Despite their historical connection, the two companies have since developed independent industrial chains spanning engines, gearboxes, and vehicles. Currently, they operate in a competitive yet cooperative manner. An insider from Sinotruk noted that while the company could produce its own engines and transmissions, collaboration with Weichai Power is unlikely unless it brings mutual benefits. Sinotruk’s Twelfth Five-Year Plan aims to reach a production and sales scale of 250,000 units by 2015, with sales exceeding 100 billion yuan. To achieve this, the company may expand into passenger car markets. Meanwhile, Zhongtong Bus, based in Liaocheng, Shandong, has started gaining attention. Affiliated with the Shandong Communications Industry Group, Zhongtong shares a common controller with Sinotruk through the Shandong Provincial SASAC. Analysts suggest that Sinotruk may acquire Zhongtong Bus through a structured reorganization, potentially leading to three listed entities under its umbrella. This would allow for greater synergy between chassis production, new energy R&D, and resource optimization. Although there are plans to reorganize the bus company, current market conditions have delayed formal implementation. However, as the environment improves, such moves are expected to proceed. In January of this year, Sinotruk produced and sold over 4,000 heavy trucks, with more than 930 units exported. Despite a year-on-year decline, its market share rose to 37.64%, marking a significant increase. This growing concentration sets the stage for further industry consolidation. Ma Chun-chi has advocated for higher entry barriers in the heavy truck industry to encourage mergers and acquisitions, aiming to strengthen Sinotruk’s position. Since the early days of bringing Steyr technology into China in 1984, Sinotruk has evolved significantly, forming a group structure in 1990 before being split into three separate entities in 2000. With the current Revitalization Plan promoting industry restructuring, Sinotruk is once again positioned as the leader in commercial vehicle integration. While specific policies supporting reorganizations remain unclear, the company is actively leveraging the available resources to drive growth. The heavy truck market is seen as the main driver for future commercial vehicle expansion. Leading companies include Sinotruk, Dongfeng, Jiefang, Foton, and Shaanxi Zhongqi, while smaller players face declining market shares. Analysts believe that dominant firms will continue to absorb weaker competitors, reinforcing industry concentration. Additionally, Weichai Power still holds potential for integration with Sinotruk. If such a move occurs, it could lead to a return of Shaanxi Heavy Duty Truck under Sinotruk, recreating a pre-2000 industry structure. However, this is not a step backward but a strategic move driven by market competition rather than necessity. Last year, Sinotruk initiated small-scale reorganization efforts, signing agreements with Shanxi Datong Gear and Hubei Huwei Special Vehicle Project. These steps signal a broader strategy for growth and efficiency. According to Ni Guixiang, Vice Minister of Culture and Construction at Sinotruk, the heavy truck market is showing signs of recovery, with the company currently receiving orders for 700 to 800 vehicles. This year’s target is to sell 125,000 heavy trucks, reflecting a 11.6% increase from the previous year.

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