Recently, listed companies in the internal combustion engine industry have announced third-quarter announcements. The year-on-year growth rate of the two operating revenues of the 13 companies decreased, and the growth rate of net profit of the three companies declined.

Among them, Sinotruk, Weichai Power and other companies benefited from the high demand of the heavy-duty truck market; affected by a series of agricultural support policies, diesel production companies such as Quanchai Power, Changchai, Dongfengchaochai, etc. remained high. Growth. Affected by the declining demand of the light truck market, the performance of Yunnei’s companies has declined.

Zhang Xiaojiu, vice chairman of the China Federation of Machinery Industry and chairman of the China Combustion Engines Association, said at the industry council held not long ago that in the first three quarters of 2010, only cars, agricultural machinery, engineering machinery, and stationary generator sets were used in several fields. The output of internal combustion engines in China increased by about 30% year-on-year.

He predicted that with the addition of internal combustion engines for ships, railway locomotives, and other fields, the total output of internal combustion engines in China will exceed 75 million units in 2010, and the total power will exceed 1.25 billion kilowatts.

Benefit the heavy truck market

Since 2010, sales in the domestic heavy-duty truck market have been generally popular. In addition, the base figure for the same period in 2009 has been low, and many companies have seen 100% growth, even reaching a 200% increase.

Relevant data show that in the first three quarters of China's heavy truck sales was 788,500, an increase of 74.72%.

Weichai Power is also one of the beneficiaries of the heavy-duty truck market. The company's third quarterly report shows that the total net profit in the first three quarters reached 4.801 billion yuan, an increase of 101.54% year-on-year, and the year-on-year increase of 5.76 yuan per share has also reached 101.40%. In the first three quarters of the year, the company sold a total of approximately 420,000 engines, an increase of approximately 79.5% year-on-year, and the heavy-duty truck industry sold 788,800, an increase of 76% year-on-year.

China National Heavy Duty Truck released the 2010 third quarterly report showing heavy truck sales of 84,800 units, an increase of 40.8% year-on-year, and total operating revenue of 22.743 billion yuan, an increase of 45.33% year-on-year. It completed sales of 83,000 vehicles in 2010 and achieved sales revenue of 21 billion yuan in advance. The goal. At the same time, it achieved net profit of RMB710 million, an increase of 120.30% year-on-year; basic earnings per share was RMB1.69.

Some experts believe that with the continued recovery of the macro economy, the logistics market is making efforts, and the sales of highway heavy trucks and semitrailer tractors will recover faster in the second half of the year.

However, there are also many uncertainties in the heavy truck industry. For Weichai Power, currently in the powertrain, commercial vehicle, and auto parts business segments, the heavy truck business accounted for 34% of sales revenue, but its profit contribution was only 14%, and the introduction of high-end heavy truck products It is the next major task of Weichai.

In addition, real estate control policies and the implementation of new emission standards will also affect the heavy truck market demand.

It is reported that compared with the National 3, the National IV standard requires that the emission of light-duty bicycles on the former benchmark be reduced by about 50%, that of heavy-duty vehicles by about 30%, and that of particulate matter by more than 80%. For this reason, the electronically controlled fuel injection system of the engine needs to be re-matched, and the catalytic converter formula is re-calibrated, and precious metal elements are added, so that the control accuracy of the electronically controlled fuel injection is higher. The shortage of technology and rising costs will impose a certain restrictive effect on enterprises. Coupled with the fact that the oil products that meet the National IV emission standards have not yet been fully popularized, their prices will also be adjusted upwards, which will certainly have an impact on the purchasing enthusiasm of car consumers.

In fact, the year-on-year growth rate of heavy-duty trucks in the third quarter of 2010 has already experienced a significant decline, with the sales growth for September being only 4.8% year-on-year.

Affected light truck market decline

In the third quarter, the light truck market showed a significant decline in sales in July, a decrease of 17.97% from the previous month. The situation in August and September slightly improved, but the overall trend is still declining. One of the reasons for this is the decline in light truck market demand. To.

As a result, Yunnei’s performance, which is dominated by the traditional Xiaochai business, has slipped. In the third quarter, the company sold a total of 178,000 diesel engines. In the same period of 2009, it sold 205,000 units, a year-on-year decrease of 13.2%, which is basically the same as the half-year report.

Ye Mingxin, deputy general manager of sales company of Jiangling Motors Co., Ltd., said, “As we expected, the light-duty truck market will decline at about 4% in the third quarter, and Jiangling’s decline in the third quarter is probably the same figure.”

"But there are still many favorable factors in the light truck market." An industry analyst analyzed. The person said: “The Third Plenary Session of the 17th CPC Central Committee clearly proposed to focus on the rural market, which is a favorable factor for the development of the low-end light trucks in the rural transportation market. In addition, the state fully implements the three national standards for high-end light truck companies. It is also good news. The high-end light trucks have met the requirements of the National Bank very early and the development costs have been shared."

The performance decline of Dongan Power was mainly due to the gradual weakening of the effectiveness of policies such as automobile going to the countryside and purchase tax subsidies. Mini-cars and self-owned brand cars will face even greater risks. Affected by this, agricultural machinery companies such as Suchangchai and Weichai also deserve attention.

Lock down energy saving and emission reduction

"Regardless of changes in market demand, energy conservation and emission reduction will be the main ideas for the development of internal combustion engine companies." Experts said.

Yang Shuyi, secretary-general of the Institute of Internal Combustion Engines, pointed out that the “12th Five-Year Plan” period is an important period of strategic opportunities for the internal combustion engine industry to become stronger and stronger. After the global economic recovery, the market will face new challenges under the high requirements of technology, materials and regulations. . By 2030, half of the global emission reduction will come from the internal combustion engine.

At the same time, the role of internal combustion engine companies in the development of new energy vehicles will also become increasingly important. Recently, the development of China's passenger car hybrid power system has been led by OEMs. Weichai, Yuchai and other large diesel engine plants have all started to develop their own hybrid systems. Weichai, for example, is currently leading a country's hybrid power system development project.

Zhang Xiaolu also proposed that the development of diesel passenger cars is a good solution. According to statistics, the passenger car diesel engine is 30% more fuel efficient than the gasoline engine, and its power is also strong, which is in line with the low-carbon economy trend. With the recent introduction of energy-saving subsidies, consumers in countries with 1.6-liter or lower emission passenger cars will be given a one-time quota. This policy also clearly states that the target of subsidies includes diesel locomotives.

Recently, many auto companies in the industry have foreseen the strong effectiveness of diesel engines in achieving "low carbon in the automotive industry." They have started to force diesel engine technology - Beiqi Futian and the United States Cummins Corporation, to import in their vehicle products Advanced diesel engine technology; Weichai Group even announced its strategic goal of “creating a 100-gigabit diesel engine base”; after implementing the vehicle, Audi, Land Rover and other major brands have also launched diesel-powered sedan in China. Not bad.

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