China’s GDP rose at a 7.9% year-over-year pace in the fourth quarter of 2012, according to the most recent China Commercial Vehicle Outlook, jointly published quarterly by ACT and SIC, China’s State Information Center.
“This was the first acceleration in GDP growth since the end of 2010, and was driven by strong trade growth as well as improving consumption and investment,” said Frank Maly, director of commercial vehicle transportation analysis & research at ACT.
“Domestic sales of Chinese heavy duty trucks (excluding tractor) continued downward in the fourth quarter, falling 18% year over year; however, for the total truck and tractor market, Q4 sales were positive quarter over quarter. Bus market sales were down almost 4% year over year, but that was an improvement over the tumble of the third quarter. Strength should continue in the bus market for the next two quarters, supported by urbanization and the associated need for public transport.”
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.