China's heavy-duty market for freight-hauling equipment continued to be soft in the first quarter, but strength in other sectors allowed overall commercial vehicle sales to come in ahead of prior forecasts, according to a report published by ACT Research Co., LLC, (ACT) and China's State Information Center (SIC).
Heavy-duty sales were down 40 percent from the first quarter of 2008, while medium duty posted an 18 percent increase, both of which were well above expectations.
The Q2 2009 China Commercial Vehicle Demand Outlook noted that the market for dump and other trucks used in construction was relatively strong in the first quarter of 2009 due to rebuilding after last year’s earthquake in Sichuan, as well as impacts from the central government’s stimulus focusing on infrastructure expansion.
“While the global recession has impacted China’s export freight market, domestic initiatives are driving sales for Chinese commercial vehicle manufacturers,” said Kenny Vieth, ACT Partner and Senior Analyst.
The China Commercial Vehicle Demand Outlook is published jointly by ACT and SIC and released quarterly. The next issue will be published in late August.
For more information on ACT, please go to our web site at www.actresearch.net