RV market hit a new high with 3,209 units sold
Date:2023-05-16 Author:Nancy Source:www.chinaspv.com
May 16, 2023, China, As a segment of the special purpose vehicle industry, the RV (Recreational Vehicle) market has shown promising development recently, becoming a bright spot in an otherwise lackluster commercial vehicle market. According to registration data, a total of 3,209 units RVs were sold in the first quarter of 2023, a 32.3% increase from the 2,425 units in the same period of 2022, and setting a new high for the same period in the past five years.
The sales data for the first quarter of the RV market in the past six years, and their respective year-on-year growth rates, are shown below:
| |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
| Sales in Q1 |
1149 |
1660 |
1102 |
2066 |
2425 |
3209 |
| YOY growth% |
7 |
115 |
332 |
75 |
10 |
32.2 |
The outstanding performance of the RV market in the first quarter of this year is mainly attributed to the following factors, based on research analysis:
The pandemic has been contained, and the tourism market has recovered, showing an unusual vitality compared to the same period in recent years.
The government has introduced various policies to actively encourage tourism consumption.
People pay more attention to the privacy and safety of outbound tourism, and RVs can meet the needs of some consumers for privacy and safety, thereby promoting an increase in demand for RVs.
Top 10 RV companies by sales volume in the first quarter of 2023:
| Rank |
Company |
Sales in Q1 2023 |
Sales in Q1 2022 |
YOY growth |
| 1 |
SAIC MAXUS |
431 |
243 |
77.4 |
| 2 |
Yutong |
267 |
175 |
52.6 |
| 3 |
Daide |
157 |
126 |
24.6 |
| 4 |
Hubei Qixing |
149 |
85 |
75.3 |
| 5 |
Hubei Heli |
126 |
71 |
77.5 |
| 6 |
Lanzhong RV |
116 |
148 |
-21.6 |
| 7 |
Chery |
100 |
61 |
63.9 |
| 8 |
Weier Tefen |
78 |
51 |
52.9 |
| 9 |
Dachi RV |
74 |
48 |
54.2 |
| 10 |
JMC |
72 |
50 |
44 |
| |
Industry |
3209 |
2425 |
32.3 |
In the first quarter of 2022, SAIC Maxus, Nanjing Automobile, and Jiangling Motors were the top three companies in the RV industry, with total sales of 917, 716, and 345 units, respectively, and market shares of 37.8%, 29.53%, and 14.23%, respectively. The top 10 companies accounted for more than 90% (97.22%) of the total sales.
In short, among the nearly 20 companies competing in the RV market, SAIC Maxus, Nanjing Automobile, and Jiangling Motors are in the first echelon of the industry, and their performance is relatively outstanding.
Top 10 regional rankings by sales volume in the first quarter of 2022:
| Rank |
Region |
Sales in Q1 2023 |
Market share% |
| 1 |
Jiangsu |
375 |
15.5 |
| 2 |
Hubei |
206 |
8.5 |
| 3 |
Shandong |
2204 |
8.4 |
| 4 |
Zhejiang |
198 |
8.16 |
| 5 |
Guangdong |
178 |
7.34 |
| 6 |
Henan |
130 |
5.36 |
| 7 |
Sichuan |
117 |
4.82 |
| 8 |
Hebei |
90 |
3.71 |
| 9 |
Shanghai |
89 |
3.67 |
| 10 |
Liaoning |
88 |
3.63 |
| |
TOP 10 |
1675 |
69.1 |
| |
Industry |
2425 |
100 |
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