In the first half of 2008, China’s heavy truck sales stood at 380,100, up 48.3% over the first half of 2007, according to Research and Markets, which had added the report to its offering.
It is estimated that the sales will continue to grow in the second half of the year, but the growth rate will slow down.
China's heavy truck industry grew rapidly in the period 2000-2004. The sales of heavy truck jumped to 370,795 units in 2004 from 82,184 units in 2000, hitting the highest of industry cycle.
In 2005, China's heavy truck industry had a negative growth due to impact of macro-economic control and skyrocketing oil prices, making the industry fall down to the bottom of industry cycle. The sales in the year reached 236,600 trucks, decreased 36% year on year.
In 2006, the industry had a recovery growth, the sales stood at 307,300 trucks, increased 30% year on year.
In 2007, the industry maintained the growth momentum in 2006; the sales reached 487,500 trucks, up 58.64% year on year. China National Heavy Duty Truck Group ranked the No.1 in terms of sales of 99,800 trucks, followed by FAW Group Corp. with sales of 96,200 trucks. Dongfeng Motor, Shaanxi Automobile Group and Fortan Motor ranked the third, fourth, fifth places respectively.