Demand declines in commercial vehicle prices for passenger cars
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The sluggish sales of the domestic commercial vehicle market for many consecutive years is in stark contrast to the continuous rise in the sales of passenger vehicles. Many commercial vehicle companies have begun to look for ways to boost sales by switching to the passenger vehicle market. Recently, Foton Motors announced the brand new "Shuangshi" LOGO for passenger cars, which is intended to enter into the passenger car market. At the same time, Fujian New Longma Automobile also launched the Qiteng V60, targeting the domestic hot SUV market. People in the industry believe that the continued downturn in sales volume has caused commercial vehicle companies to face the challenges of transformation and upgrading. The field of passenger vehicles is undoubtedly one of the means to break the deadlock. 
Since 2011, sales of commercial vehicles have continued to decline due to factors such as the fall in the country’s economic growth. Data show that last year, the sales of commercial vehicles in the country totaled 3,451,300 vehicles, a year-on-year decrease of 8.97%. In the first 10 months of this year, the sales of passenger cars in commercial vehicles were 424,800, a year-on-year decrease of 8.47%; the sales volume of trucks was 2,496,600, which was still in a downturn despite an increase of 7.18% year-on-year. At the same time, the passenger car market has continued to grow. In the first 10 months of this year, domestic sales of passenger cars were 19.096 million, an increase of 15.4% year-on-year. Cui Dongshu, secretary-general of the National Passenger Vehicle Market Information Association, predicts that domestic passenger car sales will grow by about 13% year-on-year this year. In the face of rapid growth in the passenger car market, commercial vehicle companies have begun to transform and launch passenger vehicles to increase sales.
In March this year, Foton Motor released the “Jiatu†brand and set foot in the passenger car market. Recently, Foton Motor announced the establishment of the Passenger Vehicle Business Division, and further integrated the three brands of Gatuk, Savannah, and Tulu, and released the brand new "Shuangshi" LOGO. Futian passenger vehicle business director Wang Shuhai said that Foton passenger car is the strategic core business of Foton Motor Group, and is the breakthrough result after the successful transformation of Foton Motor Group. Futian Passenger Vehicle covers four business categories: MPV, SUV, CUV, and Pickup. It owns three product brands, Beijing Jiatu, Savannah, and Tulu. Futian Passenger Vehicle will provide a full-featured product that meets various needs such as smart home travel and personalized leisure travel, and will provide users with higher quality, more personalized products and more intimate services.
According to the planning of Foton Motors, the passenger car market has become one of the key strategic transformations during the “13th Five-Year Plan†period of Beiqi Foton. The product line will be transformed from a commercial vehicle to a commercial vehicle and a passenger vehicle at the same time. The plan is for 2020. The annual contribution of passenger vehicles to sales reached 30%.
At the same time, Fujian New Longma Motor Co., Ltd. launched the first compact SUV model, the V60, targeting the fiery domestic SUV market after launching the two models, the M70 and the EX80, for both micro- and MPV markets. The model starts at a price of only 56,900 yuan, and it has a 7-seater layout. Song Shihong, deputy general manager of Fujian New Longma Automobile Co., Ltd., said that after the implementation of the national two-child policy, the Qitium V60 will focus on the "678" consumer group of 6-7 families composed of "after 80" to balance family and Commercial travel SUV models compete in the domestic passenger car market.
People in the industry believe that the steady increase in the sales volume of the passenger vehicle market has enabled commercial vehicle companies to start their transition and seek sales growth. However, in consumer groups, commercial vehicles and passenger vehicles are not the same. Passenger cars need to meet the individual needs of consumers. Therefore, more targeted plans need to be made in terms of model launch, marketing methods, and after-sales services. . In addition, when it comes to the introduction of new models, commercial vehicle manufacturers involved in the field of passenger vehicles must also change their strategic and production methods. 