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!
Bankruptcy filing statistics are important, but they only scratch the surface when it comes to assessing overall trends in the world of distressed businesses. Gregg Morin identifies some of the other metrics that matter and delves into what they’ve shown... read more
Believing in the leadership motto, “Learn more, inspire more, do more,” Ricardo E. (Ricky) Rios, chief operating officer of Commercial Equipment Finance, also models his life after it. Following his passion for self-development, Rios has taken Commercial Equipment Finance to... read more