What’s up in China? HD demand is
Sales of heavy duty commercial vehicles in China reached 1.015 million units in 2010, a 60% increase over 2009 volume. According to ACT Research, for the fourth quarter of the year, 226,500 units were sold, a 23% increase over the same quarter of 2009 and an 11% increase over the third quarter of 2010.
The medium-duty truck and medium- and heavy-duty bus segments resulted in another 430,000 units being sold. Including the heavy duty segment, this pushed the total commercial vehicle market in China to over 1.445 million vehicles in 2010. This was over 42% above 2009 levels.
“After the peak of 2010, we expect the China commercial vehicle market to decline in 2011,” says Kenny Vieth, president and senior analyst with ACT. “After that market pause, sales are expected to return to a slow-growth path beginning in 2012.”
This information is included in the recently released China Commercial Vehicle Outlook report published jointly by ACT and SIC, China’s State Information Center, and released quarterly. The report also includes an overview of the China economy and its impact on sales of heavy- and medium-duty trucks and buses, as well as OEM market shares. The China Commercial Vehicle Outlook is published quarterly. The next issue will be published in June 2011.
Other highlights from the report include:
* export weakness and strength in domestic consumption will dominate the economy of China during most of the year
* inflation has become a major point of concern for the Chinese economy
* 2011 begins the implementation of the 12th Five Year Plan; major emphasis will be given to alternate energy vehicles, high-end equipment manufacturing, advanced materials development and new generation information technology
ACT publishes new and used commercial vehicle industry data, market analysis and forecasting services for the North American market, as well as the U.S. tractor-trailer market and the China CV market. ACT’s CV services are used by all major North American truck and trailer manufacturers and their suppliers, as well as the banking and investment community. For more information visit http://www.actresearch.net.