With a freight transportation slump and operational costs rising, China’s heavy duty market continued the downward spiral that began last year.
The information comes from the China Commercial Vehicle Outlook, which is jointly published quarterly by Americas Commercial Trucking (ACT) Research Co. LLC 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.
“Continued weakness in freight economy has led to a significant pull-back in China’s heavy-duty truck production,” said Kenny Vieth, president and senior analyst at ACT.
“However, growing discretionary income amongst Chinese is allowing for more travel. This has led to continued strong demand for buses.”
Vieth said that growth in bus demand will be insufficient to offset the weakness in other segments of the transportation industry, however.
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,
please visit http://www.actresearch.net.