The China heavy- and medium-duty commercial vehicle (CV) markets continue to recover from weak sales during the second half of 2008, according to a report published by ACT Research Co., LLC, and China's State Information Center (SIC).
The recently released China Commercial Vehicle Outlook notes that sales of heavy- and medium-duty trucks in the second quarter were the highest over the last ten quarters. Sales of heavy-duty tractors, primarily used in the freight hauling industry, improved from the first quarter, but remain below prior year levels, largely due to a weak export market.
The report increased in the forecast in each segment for full year 2009 and 2010, along with introducing a new forecast for the medium and heavy duty bus market.
“Policy makers in China have used significant capital infusions for infrastructure investment to spur economic growth despite the declines in export business,” said Ken Vieth, Jr., ACT Partner and Senior Analyst. “With exports expected to turn upward in the fourth quarter, we project the CV market to see steady growth over the five-year forecast horizon.”The China Commercial Vehicle Demand Outlook is published jointly by ACT and SIC and released quarterly. The next issue will be published in December.