Recently, the state leaders visited Vietnam, which set off a wave of cooperation between China and Vietnam. The leaders of the two countries announced that on the basis of deepening the comprehensive strategic cooperative partnership between China and Vietnam, they would work together to build a strategic community of destiny between China and Vietnam, accelerate the promotion of the joint construction of the "Belt and Road" initiative and the "Two Corridors and One Circle" strategic docking cooperation, and further promote economic cooperation and exchanges between the two countries. Guangxi and Vietnam are connected by mountains and rivers. With its geographical advantages, Yuchai, located in Guangxi, has become an important force for China's power to go abroad and promote the joint progress of China and ASEAN.
The Chinese power with the highest share
Yuchai contributes to Vietnam's economic development
After 26 years of ups and downs, the surging power of "Yuchai core" As the construction of the "Belt and Road" is promoted, Yuchai has accelerated its entry into overseas automobile, machinery, shipbuilding and other fields, becoming the engine brand with the most widely used industry products and the highest registration and certification pass rate in the Vietnamese market, and also the Chinese power brand with the highest market share in Vietnam.
"General Secretary Xi's visit to Vietnam this time will provide us with a broader space and stronger support for investment and development in Vietnam." said Tang Haidong, Chief Representative of Yuchai Representative Office in Vietnam.
Open the market and share opportunities. Taking advantage of the “Belt and Road” initiative, Yuchai has deepened its presence in the Vietnamese market. With efficient and reliable products and worry-free and fast services, it has participated in road transportation and engineering construction in Vietnam, injecting a steady stream of power into the lives of local people and economic development.
“Two-way rush”
The craftsmanship of Yuchai core wins the trust of customers
“Haiou Company mainly engages in the import of complete vehicles, such as China’s Chenglong trucks, which are 100% equipped with Yuchai engines.” Qin Cheng, the accessories manager of Yuchai’s Vietnam Office, introduced that in 2022, Vietnam will import about 40,000 complete medium-duty trucks, and more than 10,000 of them will use Yuchai engines. As an agent of Chenglong trucks, Haiou Company imports about 5,000 vehicles a year.
“Yuchai supplies many automobile and tractor-related products to the Vietnamese market. The varieties are rich and the prices are moderate.” Nguyen Van Duy, after-sales business manager of Xing’an 4S store of Vietnam Haiou Automobile Company, said that Yuchai’s service is very considerate and thoughtful. If there is any problem with the car, the office can provide help and solve the customer’s problem in time. “Made in China” is diversified in the Vietnamese market, but Yuchai has a greater advantage and is deeply favored by Vietnamese consumers.
Yuchai engines have sold more than 150,000 units in the Vietnamese market. Among them, in 2023, tractors equipped with Yuchai machines and medium and heavy dump/cargo exports to Vietnam accounted for more than 36% of the market share, ranking first in the industry. Yuchai air compressors, drilling rigs, wheel excavators, and loader power are increasingly favored by local users in Vietnam, with sales increasing by 132% year-on-year in 2023. Vietnam's power shortage in mid-2023 had a significant impact on local factory production and residents' lives. Yuchai's VTD and VC high-power generators serve Vietnamese factories, providing strong support for corporate production operations; Yuchai's generator exports continue to grow, with sales increasing by 321% so far in 2023.
Yuchai has built 3 spare parts center warehouses and 21 first-level service stations in Vietnam, covering the entire territory of Vietnam, to ensure the after-sales service and spare parts needs of Yuchai's full range of products in the Vietnamese market, provide high-quality services to Vietnamese users, and strongly support the development of Vietnam's manufacturing industry.
In the fierce international competition, Yuchai continues to gain favor in overseas markets. Behind this is the continuous rise of Made in China and the continuous warming of China-Vietnam economic and trade relations. "Vietnam is Yuchai's largest overseas market. Relying on the opportunities of the Belt and Road Initiative, Yuchai will further focus on new potential markets and market segments, expand deeper and wider cooperation, accelerate brand implementation and enhance international competitiveness, and strive to become a model enterprise for building a China-ASEAN community of shared future." Wang Limin, Vice President of Yuchai Co., Ltd. Said.
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