ACT Research: China Commercial Vehicle Demand Makes Rapid Recovery
SEP 9, 2016 - 6:30 am
ACT Research reported in the most recent China Commercial Vehicle Outlook, jointly published by ACT and China’s State Information Center (SIC), that the leveling-out of China’s economy and lower base year comparisons allowed a rapid year-over-year recovery in every commercial vehicle segment during Q2/16.
The outlook included an overview of the Chinese 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.
“Coupled with improvement in market demand, domestic need for heavy trucks increased significantly, rising more than 18% [year-over-year],” said Robert Perkins, senior global business consultant at ACT. “The tractor segment fared even better, with nearly 50% [year-over-year] growth, more than eight [percentage points] above Q1’s growth rate. Medium duty truck sales registered a healthy 22% [year-over-year], two [percentage points] above the previous quarter.”
Perkins said that heavy trucks and tractors are expected to see year-over-year growth in Q3/16, before turning flat in Q4/16, while year-over-year contraction is forecast for medium trucks in the next two quarters. Additionally, China’s medium and large bus markets are expected to be strong, supported by stimulus for environmentally-friendly vehicles, particularly in urban areas.
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.
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