ACT Research: China’s Commercial Vehicle Market Experiences Sales Uptick in Q1/21

According to the recent release of ACT Research’s China Commercial Vehicle OUTLOOK, much like other economies, recovery from the COVID-19 pandemic in China is well underway, but not all segments or regions are rebounding at the same speed.

Sales of commercial trucks and tractors in China grew quarter over quarter and year over year in Q1/21. The Q1/21 growth rate for medium and large buses was slower than the previous quarter, although stronger year over year, as this segment was more impacted by the earlier in the year COVID-19 resurgence in some areas of the country that required temporary reinstatements of travel restrictions.

As the impact of COVID-19 continues to abate and the economy continues to strengthen, the commercial vehicle market in China also is being impacted by government policy. Major market drivers in the first half of 2021 were the continued elimination of NSIII (NS3) vehicles, as well as the impending NSVI emissions mandate. Additionally, the NSIII elimination policy is being expanded to also impact NSIV vehicles in major population centers. Other factors that will influence vehicle demand through the rest of 2021 will include a new axle-based highway toll structure, continuing modal shifts toward water and rail and the ongoing shift to e-commerce.

The China Commercial Vehicle OUTLOOK, jointly published quarterly by ACT and China’s State Information Center (SIC), includes a review and forecast of China’s heavy tractor and heavy and medium duty truck and bus markets, as well as analysis of OEM market shares within China and an overview of the Chinese macroeconomy. This quarterly report also includes access to monthly by-OEM wholesale data, alternative fuels market shares by CV application, market share percentages, industrial policy impacts and an overview of the competitive landscape.

Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!

  • Hidden
  • RAM Group Holdings does not share or sell your personal information. The information we ask you to furnish is limited to what is needed to process your order fully and completely. You may unsubscribe at any time. View our Privacy Policy.
  • Please Confirm permission for Monitor/Monitordaily to e-mail you.
  • Hidden

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.