New energy refrigerated trucks in the first quarter of 2024:

May 14,2024

Refrigerated trucks are a niche market segment among special-purpose vehicles, mainly used for home delivery of fruits and vegetables, pharmaceutical distribution, and fresh food e-commerce distribution. With the rapid development of cold chain logistics and the support of many favorable policies at the national and local levels in recent years, the refrigerated transport vehicle market has developed rapidly. Among them, new energy refrigerated trucks performed more prominently, but the epidemic in 2022 also had a certain impact on their sales.
According to data provided by the Cold Chain Logistics Professional Committee of the China Federation of Logistics and Purchasing, a total of 1,540 new energy refrigerated trucks were sold in the first quarter of 2024 (including export, non-terminal data), a year-on-year increase of 381.3% from 320 vehicles in 2023;
According to terminal licensing data, the cumulative sales of new energy refrigerated trucks in the first quarter of 2024 were 1,487 units (excluding exports), an increase of 395.7% compared with 300 units in the same period last year.
So what are the main features of the new energy refrigerated truck market in the first quarter of 2024?
Feature 1. The year-on-year growth rate far outperforms the refrigerated truck market
Table 1, according to data provided by the Cold Chain Logistics Professional Committee of the China Federation of Logistics and Purchasing, comparison of the year-on-year growth rates of new energy refrigerated trucks and refrigerated trucks in the first quarter of 2024:

The above table shows that in the first quarter of 2024, new energy refrigerated trucks grew by 381.3% year-on-year, far outperforming the -12.4% growth rate of the refrigerated truck market in the first quarter of this year, becoming a "bright spot" in the refrigerated truck market in the first quarter of this year. According to analysis, it mainly benefits from:
First, various policies supporting the development of new energy logistics vehicles have been further implemented recently, which has promoted the surge in the new energy refrigerated vehicle market in the first quarter of this year.
Second, the right of way of new energy refrigerated trucks is greater than that of traditional refrigerated trucks, making it easier for refrigerated trucks to enter the city;
Third, charging infrastructure has been continuously improved recently, which has solved the problem of charging difficulties for new energy refrigerated vehicles;
Fourth, the decline in vehicle prices accompanied by the decline in battery prices has made it easier for truck owners to purchase refrigerated trucks;
It is the combined effect of many of the above factors that caused the new energy refrigerated truck market to surge year-on-year in the first quarter of this year and outperform the refrigerated truck market.
Feature 2: Pure electrics occupy the absolute majority, with hybrids leading the market and “the most popular”
Table 2, according to terminal licensing data, the sales volume, proportion and proportion of new energy refrigerated trucks of various technical routes in the first quarter of 2024 increased or decreased by % year-on-year


As can be seen from the chart above, in the first quarter of 2024, the year-on-year sales and proportions of various new energy refrigerated trucks are as follows:
---Cumulative sales of pure electric refrigerated trucks were 989 units, a year-on-year increase of 343%, occupying 66.5% of the market share of new energy refrigerated trucks, occupying an absolute dominant position, but the proportion decreased by 7.8 percentage points year-on-year, indicating that its dominant position has weakened.
---A total of 389 hybrid refrigerated trucks were sold, a year-on-year increase of 764.4%, leading the new energy refrigerated truck market, with a market share of 26.2%, ranking second, and a year-on-year increase of 11.2 percentage points. The subdivision model with the largest number of additions and the “most popular”. According to analysis, the main reasons are:
First, there are currently many places where charging infrastructure is weak. Pure electric refrigerated trucks are inconvenient to charge, but hybrid light trucks are more suitable.
Second, the purchase cost of hybrid refrigerated trucks is lower than that of pure electric light trucks.
According to the author’s understanding, the cost of the power battery of a pure electric refrigerated truck equipped with 100 kilowatt-hours of electricity is about 150,000 yuan, the weight is less than 1 ton (about 0.9 tons), the purchase price is about 200,000 yuan, and the vehicle’s overall quality About 3 tons. The power battery capacity of a hybrid refrigerated truck of the same quality is generally 15-20KWh, and the price is about 160,000 yuan.
It can be seen that the price of a hybrid refrigerated truck of the same weight is 40,000 yuan cheaper than that of a pure electric light truck. This gives hybrid refrigerated trucks a greater advantage in terms of purchase cost than pure electric refrigerated trucks. Especially in the current environment of "low freight prices, too many trucks, and too few goods", buying a hybrid refrigerated truck in a specific scenario has a shorter return period and lower market risk than a pure electric refrigerated truck.
Third, hybrid refrigerated trucks can obtain green cards in compliance with regulations.
According to current policies, as long as the cruising range of hybrid refrigerated trucks exceeds 50 kilometers in pure electric mode, they can meet the green license requirements and enjoy the same preferential policies on road rights as pure electric vehicles.
Fourth, since this year, mainstream light truck companies and "new forces" in vehicle manufacturing have launched technologically advanced hybrid refrigerated truck models, providing more product support for end users to choose hybrid light truck models.
According to statistics, currently more than 20 mainstream light truck companies, including Beiqi Foton, JAC Motors, Dongfeng Motors, FAW Jiefang, Yuan Yuan New Energy Commercial Vehicles, BYD, Weichai New Energy Commercial Vehicles, and Zhejiang Feidie Automobile, all have hybrid refrigeration with advanced technology. car products, strongly supporting hybrid
For example, Foton Motor launches the Omar Kezhilan HS series hybrid refrigerated truck. Its standard plug-in hybrid refrigerated vehicle adopts the PS technology route, is equipped with an Ocon engine, and is matched with a Mingheng CVT dual-motor hybrid transmission. The shifting process is quiet and It is smooth and has abundant power. The fuel consumption of the whole vehicle is only 7.16 liters per 100 kilometers, which can save 15-20% of fuel compared with the same level of fuel vehicles. Another example is the hybrid No. 1 FAW Cornucopia refrigerated truck launched by JAC, which is equipped with Derun D2x2 plug-in The electric dual-motor power split strong hybrid system has two sets of power systems, one is the engine and the other is two motors. It can intelligently control the power output ratio of the engine and motor according to different driving scenarios and road conditions. , achieving the optimal combination of oil and electricity, with a cruising range of over 750 kilometers.
---Fuel cell refrigerated trucks have sold a total of 109 units, a year-on-year increase of 240.6%, underperforming the new energy refrigerated trucks market. The market share is only 7.3%, a year-on-year decrease of 3.4 percentage points. It is the segment model with the largest year-on-year decrease. .
Feature 3: Light truck models account for over 90%, leading the market
Table 3, based on terminal licensing data, the year-on-year and proportional sales statistics of various types of new energy refrigerated trucks in the first quarter of 2024 are as follows:

The table above shows that among various types of new energy refrigerated trucks in the first quarter of 2024:
---Light truck refrigerated trucks (mainly 4.5-ton models) have sold a total of 1,340 units, a year-on-year increase of 402.0%, leading the new energy refrigerated truck market, accounting for 90.1% of the market, occupying an absolute dominant position, and the proportion increased year-on-year 1.1 percentage points, which is the segmented model with the largest year-on-year increase in share and leading the market share;
---Small truck refrigerated trucks (including 3.5-4 tons models) have sold a total of 140 units, a year-on-year increase of 324.2%, underperforming the new energy refrigerated truck market, with a market share of 9.4%, ranking second, and a year-on-year decrease of 1.6% percentage points; it is the subdivision model with the largest decrease in proportion year-on-year;
---A total of 7 medium-truck refrigerated trucks have been sold, which is a net increase year-on-year. The market share is 0.5%, and the share has a net increase of 0.5 percentage points year-on-year;
---None of the other models have achieved sales.
Feature 4: Shandong, Hubei and Guangdong rank among the top three; four provinces have sales exceeding 100 vehicles
Table 4, according to the terminal licensing information, the regional sales statistics of new energy refrigerated trucks to the top 10 provinces in the first quarter of 2024 are as follows:


The chart above shows the urban flow direction of new energy refrigerated trucks in the first quarter of 2024:
---Shandong, Hubei, and Guangdong rank in the top three, with cumulative sales of 192, 135, and 116 vehicles respectively, and market shares of 12.9%, 9.1%, and 7.8% respectively; there are 4 provinces with cumulative sales exceeding 100 vehicles ( Including Shandong, Hubei, Guangdong and Henan).
---Cumulative sales in other provinces are less than 100 vehicles, and the market share is less than 6.5%;
---A total of 987 vehicles have been sold in the top 10 provinces, accounting for 66.4% of the total.
It can be seen that the regional flow of new energy refrigerated trucks in the first quarter of 2024 is very uneven.

Source : www.chinaspv.com

Editor : Sissi

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