China commercial market Q2 results mixed
Performance in China’s commercial vehicle market during Q2 2011 was mixed. Heavy-duty construction oriented trucks, as well as heavy trucks and tractors, all posted weak results when compared to the previous quarter.
However, domestic sales of medium-duty trucks reached all-time record levels, while domestic sales of large and medium buses grew 17.4% quarter over quarter (q/q). China’s real GDP grew 9.5% year-over-year (y/y) in 2Q 2011. That is a decline of 0.2 points from the previous quarter’s growth and the lowest quarterly growth posted since Q2 2009.
This information is included in the recently released China Commercial Vehicle Outlook. The report is jointly published quarterly by commercial industry analysts ACT Research and SIC, China’s State Information Center. It includes an overview of the China economy and a review and forecast of China’s heavy- and medium-duty truck and bus markets, as well as analysis of OEM market shares within China.
“Inflation remains a problem for China,” said Frank Maly, director of CV transportation analysis and research at ACT, “even though the economy is expected to grow at a slower pace throughout the second half of the year. The heavy-duty market is forecast to grow less than 1% y/y in 2011, with large and medium buses posting a 6.3% annual decline. However, the medium duty segment will remain healthy, growing over 11% year-over-year.”
SIC is affiliated with the National Development and Reform Commission of China and is engaged in research on the macro-economy, key industries and information technology.
For more information on ACT and the China Commercial Vehicle Outlook report, visit http://www.actresearch.net.