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Yutong Bus Stepping Up Exports of BEV Buses

Chinese bus maker Yutong Bus’s sales in 2022 decreased by 6.2% from the previous year to 21.80 billion CNY.

The decline in sales was due to the prolonged slump in passenger transport caused by the slowdown in the Chinese economy and the spread of the new coronavirus, which resulted in sluggish sales of large, medium and small buses.

However, in addition to setting prices that ensured profitability, the company also closely examined orders that were suspected to have been placed incorrectly, leading to a significant increase in operating profit of 710 million CNY, an increase of 31.9%. In Yutong Bus’s 2022 business report, the sales target for 2023 was set at 24.61 billion CNY, an increase of 12.9% from the previous year.

Graph: Yutong Bus: Sales and Operating Profit Margin  (2018-2022, YTD Jun. 2022 / 2023) Graph: Yutong Bus: R&D Expenses and Their Ratio to Sales  (2018-2022, YTD Jun. 2022 / 2023)
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