China’s growth has been slowing, with first quarter real GDP rising at a 7.7% year over year pace, down from 7.9% 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. 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.
“Domestic sales of Chinese heavy duty trucks (excluding tractors) fell 18% year over year,” said Frank Maly, director of commercial vehicle transportation analysis and research at ACT. “This market, as well as medium trucks, should grow in the second quarter, but lose pace in Q3 against the backdrop of a softening economy. China’s economic growth is expected to be slower over the coming five years when compared with the past five years.”
For more information on ACT and the China Commercial Vehicle Outlook report, visit www.actresearch.net.