Despite the downward movement of both its business revenue and its net profits, Yutong maintained a steady growth. Its sales volume and sales revenue of buses both ranked the first place in China. Moreover, it successfully increased its market shares in China from 33.6% last year to 38.4% this year. Its market share of new energy buses also rose six percentage points to 25.3%. According to the latest statistics, China’s bus sales revenue slumped by 46.2% and sales volume dropped by 36.4% in the first quarter. Against such a backdrop, Yutong’s sales of plug-in hybrid buses soared by 141.36%, reaching 531 units in the first three months. 

 

In the overseas market, Yutong also saw its export volume grow by a whopping 56% year on year in the first quarter this year. It recently signed a deal with Yangon Public Transport Co., Ltd. for providing the bus operator 500 units city buses, making its total number working in the country reaching over 1,000 units. In January this year, Yutong electric city buses officially joined the bus fleet in Sofia in Bulgaria, becoming the first electric city bus in the country. Just last year, 110 units Yutong city buses were delivered to Bulgaria for operation, becoming the first batch of city buses working in east Europe. 

 

The astounding performance of Yutong in the first quarter this year can be attributed to the following two reasons. First, the company continued maintaining its technical superiority among its rivals, fully living up to the market’s high expectations. Second, the bus maker has been committed to providing comprehensive new energy transport solutions for its customers. Yutong H8, a plug-in hybrid bus which made its debut last April, is equipped with ReCtrl system. In February this year, the vehicle went through another round of comprehensive upgrading, further catering to the special needs of customers.