China National Heavy Duty Truck Group provides customers with 2 billion yuan in auto consumption loans
China National Heavy Duty Truck Group (CNHTC) has signed a strategic cooperation agreement and a "car loan guarantee insurance" business deal with China People's Insurance Company (PICC). Under the agreements, CNHTC Finance will offer auto consumption loans totaling 2 billion RMB to end-users—both individuals and legal entities—who purchase vehicles from the CNHTC Group. Meanwhile, PICC will provide performance bond insurance to support these transactions.
CNHTC is one of China's most significant manufacturers of heavy-duty and military vehicles, while PICC Property & Casualty Insurance is the largest non-life insurance company on the mainland. The two companies have chosen auto financial insurance as their initial collaboration focus, aiming to expand into motor vehicle insurance and corporate asset-related businesses. Their joint car loan insurance initiative was launched simultaneously in Shandong and Beijing, with plans to gradually extend to other regions across the country. This program supports market-oriented operations on key projects under the State Council’s initiatives to boost domestic demand, promote energy efficiency, and support environmental protection in municipal projects. It also addresses the growing need for vehicle purchases among major domestic logistics companies.
The partnership aims to actively explore new growth opportunities for corporate clients by offering tailored financial and insurance solutions. In the first 11 months of this year, despite national macro-control measures and the global financial crisis, CNHTC still managed to sell 105,300 heavy-duty trucks, representing a 12.25% year-on-year increase. Export volumes reached 12,900 units, up 4.23% compared to the previous year. The company's revenue totaled 48.8 billion yuan, reflecting a 39.73% year-on-year rise. These results mark historic highs for the company, maintaining its leading position in the domestic truck industry.
For more information: China National Heavy Duty Truck Breaks Monthly Sales Record for National Heavy Truck Industry.
Tuk Tuk Cargo Tricycle,Electric Tricycles,Electric Tricycle Truck,Eec Tricycle
Xuzhou Hengshang Mechanical and Electrical Co., Ltd. , https://www.hengsenergy.com