Yutong Bus Sees Massive Sales Revenue Growth in 2024

On January 20th, Yutong Bus came up with some good news about its 2024 earnings. The company was able to achieve 3.82-4.27 billion yuan in net profit in 2024, which is 110%-135% higher than that of 2023. That’s a huge jump!

Excluding certain items, they arrived at 3.18-3.61 billion yuan of non-GAAP net profit, which is 125%-155% growth. In 2023, they reported a net profit of about 1.82 billion yuan. That is a big growth this year!

Growing the Economy: Increasing Bus Sales across the World

The rate of increase in the demand for buses is the main cause of the increase in the global economy. Yutong Bus has projected that it will sell 46,900 buses in 2024, which is 28.48% higher than that of 2023.

Of these, 14,000 will be sold for export, 37.73% more than the previous year, and 32,900 will be sold in China, 24.91% more than the previous year. This being the case, one would ask why there is an increase in sales?

In foreign markets, the competitiveness of Chinese buses is increasing, which supports the growth of exports. In China, the tourism industry is still growing and thus more buses are needed for transportation.

Also, government policies like the one that requires old buses to be replaced with new energy buses are boosting the market for new energy buses. Some of Yutong’s financial assets have also appreciated, which has contributed to the company’s earnings.

Analysis of Bus Export from China in 2024

In the first 11 months of 2024, China exported 54,500 buses, which is 38.7% more than it did in the same period last year. To this end, Yutong is preparing to accelerate its export strategy.

Yutong is expanding its international activities by establishing partnerships in more than 10 countries, including Kazakhstan, Pakistan, Ethiopia, and Malaysia. They are not just shipping products; they are shipping technology and licensing their brand.

To support customers abroad, Yutong has set up a good after-sales service network. We now have over 330 authorized service stations and more than 410 service outlets around the world, with an average of 150km between each service point.

Yutong Bus Co., Ltd. June 2024 Production and Sales Data Report
Unit: Units

Developing a Large Global Service Network

Yutong has set up regional parts centers in France, UAE, Panama, and Chile. Also, they have set up parts centers in Russia, Mexico, and South Africa. We have also partnered with more than 100 parts dealers to ensure that we can get the parts that our customers need from us easily.
Finally, Yutong has 370 customer service managers who travel round the overseas markets to assist customers, train them and solve any problems they may have.

Innovation Boosts Overseas Demand

Why are so many countries buying Chinese buses? The answer to this question is simple: technology. In 2024, the global recovery of public transport, tourism, and passenger services is projected to continue, which in turn is increasing the demand for buses from China. Some other factors that have also helped include the “Belt and Road” initiative and the delivery of special vehicles for the Hajj in the Middle East.

Leading the Way in New Energy Buses

Yutong is also focusing on the environmentally friendly segment with its new energy buses. They have already shipped more than 6,000 electric and hybrid buses to over 40 countries including Qatar, UK, and Australia. These buses are assisting the nations in reducing their carbon footprint and enhancing their public transportation systems.

Leading the Way in Hydrogen Fuel Cell Technology

Yutong has also begun to market hydrogen fuel cell buses. These buses are more efficient, faster and environment friendly. Yutong has come up with some great features for these buses, including a new filtration system that reduces the frequency of maintenance tasks and a hydrogen leak warning system for increased bus safety.

Yutong Used Buses: The Affordable Alternative for International Markets

In fact, Yutong has great new buses, but not everyone can buy them. However, there is always a way out. If you are in search of a decent bus with a reasonable price, then Tianying Used Bus is what you need.

We are a company that trades in used, well-maintained Yutong buses that are suitable for businesses that require a reliable means of transportation without having to spend a lot of money on a new bus.

Used Yutong buses that we offer are fully refurbished and checked before being delivered to the customer. We offer different models of the bus for public transport, tourism, and other purposes. Our prices are very reasonable and we provide great after sales service to ensure that once you purchase our product, you will have no cause to complain.

If you can’t afford a new Yutong bus, please check Tianying Used Bus. We have the ideal solution that will help you get a used Yutong bus at a reasonable price and continue with your business.