China’s largest heavy-duty truck maker Sinotruk has maintained growth in its exports this year despite shrinking overseas demand due to the eurozone debt crisis, the company said.
The Jinan-based truck manufacturer has clinched export orders for more than 20,000 heavy-duty trucks, making it the largest exporter of the vehicles in the country.
The company said Southeast Asian countries have become a major export destination for its vehicles, while other overseas markets like Central Asia, South America and Africa all witnessed steady growth last year.
Although production and sales of heavy-duty trucks dropped in 2011, export business remained brisk, the company said. Last year, the company exported 20,852 vehicles, up 56 percent from 2010. Exports revenue rose 82 percent year-on-year to $610 million in the year.
In contrast, production of heavy-duty trucks in 2011 totalled 86,000 units in 2011, down 35 percent from the previous year. Sales also dropped 8 percent to 100,600 units.
So far, Sinotruk has established six overseas assembly plants with an annual capacity of 30,000 heavy-duty trucks. The Hong Kong-listed company also announced plans to build factories in Brazil and Indonesia.