According to the recent release of ACT Research’s China Commercial Vehicle OUTLOOK, China’s heavy and medium commercial vehicle markets reported upticks in sales during Q4/20 following the ground lost from the severe setback due to the COVID-19 pandemic in Q1/20 and continuing the recovery that started in Q2/20.
As the impact of COVID-19 continues to abate, strengthening the economy in China, the commercial vehicle market in China is shifting in response to government policy. The single major market driver currently is the continued elimination of NSIII (NS3) vehicles. The impact was expected to weaken entering 2021, but the policy is being expanded to also impact NSIV vehicles in major geographic areas. According to ACT Research, other factors influencing vehicle demand as we move through 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 CV 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.
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