Recently, Cummins announced its performance for the fourth quarter and full year of 2020. In the fourth quarter, the company's sales revenue reached 5.8 billion U.S. dollars, an increase of 5% over the same period in 2019. North American sales were flat compared with the same period last year. Due to the strong demand in the truck and construction machinery market in China and the growth in sales of new products in India, global revenue increased by 12%.
From a global perspective, only the Chinese market is experiencing positive growth. In 2020, Cummins achieved sales revenue of 19.8 billion U.S. dollars, a 16% decrease from 2019. Cummins achieved annual net income of 1.8 billion U.S. dollars. It can only be blamed for a 21% decline in North American sales and a 7% decline in international market revenue. With the exception of China, sales in all major regions have declined, thanks to a record high demand for trucks and construction machinery in China.
Specifically, Cummins China achieved sales revenue of US$6.8 billion including wholly-owned and unconsolidated joint ventures. Cummins’ engine sales in China exceeded 670,000 units, a year-on-year increase of 24%, which is also a new record. According to industry data, the sales of Cummins National VI diesel engines reached 32,400 units, ranking first in the industry.
According to the status of various companies, Foton Cummins has set a sales record of 330,000 engines in 2020, of which the annual shipment of X-series heavy-duty engines exceeds 100,000; the annual sales of Dongfeng Cummins Engine Co., Ltd. exceeded 200,000 units, a record of nearly ten The year’s record high; Guangxi Cummins Industrial Power Co., Ltd.'s 150,000th engine rolled off the assembly line; Xi’an Cummins Engine introduced a new 12L heavy-duty power platform and started a new production base project.
In the field of key components business, Cummins' main business in China includes electronic fuel systems, turbocharging systems, filtration systems and emission treatment systems.
Among them, Cummins Electronics and Fuel System Co., Ltd. rolled off the 600,000th injector and 1.8 millionth electronic control module; the annual output and sales of Wuxi Cummins turbocharger technology supercharger exceeded 1.6 million units, with a cumulative sales volume of 16.66 million units; In addition, Cummins took the lead in applying crankcase ventilation system (eRCV) and two-stage three-way catalysis (TWC) technology to the latest National VI natural gas products, and the product market competitiveness has been improved.
