In 2014, Yuchai's bus engine sector grew evenly with 2013, but it held a market share of over 60 percent in the national IV field. According to a source from the bus engine marketing summary and arrangement meeting of Yuchai Machinery Co., Ltd. (Yuchai Machinery) on February 11, Yuchai will secure its superiority in the bus market in 2015 by intensifying terminal drive, ensuring the share of machinery plants and tapping the increment market.
Currently, the national economy is slowing down, domestic demand is weak and the overall sales of the engine industry are declining. Amid the market slump, Yuchai's bus engine sales accounted for more than half of the industry's overall sales in 2014, with its market share up 2.2 percent from 2013. Yuchai fulfilled 103.8 percent of its annual sales target of highway bus engines, and the fulfillment rate of 6L engines was 111.1 percent. Yuchai completed the matching of Euro VI engines and new 6K engines, and accomplished the mass manufacturing of 4S engines.
In 2015, electric vehicles will impact on the traditional auto market and Yuchai's bus engines will face severe challenges. According to the Administrative Measures of Beijing Municipality for Demonstrative Application of New Energy Mini Buses, Beijing is the same as the country in the standard of new energy vehicle subsidies, e.g. the proportion of Beijing's subsidy standard to the national standard is 1:1. The amount of subsidies in different areas range from 33,250 yuan to 57,000 yuan based on driving mileage. "This has exerted heavy pressure on us indeed," said Liu Ming, director of Beijing Office of Yuchai Machinery in an interview, adding, "Nevertheless Yuchai has tremendous technical reserves, a sound service system and a tough marketing team, all of which are our sources of power against challenges."
According to Zhou Chuanwu, vice general manager of Yuchai Sales Co., Ltd., Yuchai's bus sector will make constant efforts in intensifying terminal drive, ensuring the share of machinery plants and tapping the increment market to secure Yuchai's superiority in the bus market.