ACT Research: China’s CV Markets Report Sales Uptick in Q3/20
DEC 29, 2020 - 7:13 am
According to the recent release of ACT Research’s China Commercial Vehicle OUTLOOK, China’s heavy and medium commercial vehicle markets reported an uptick in sales during Q3/20 following the ground lost from the severe setback in Q1/20 due to the COVID-19 pandemic and the recovery that started in Q2.
As the national impact of COVID-19 continues to abate, strengthening the economy, the commercial vehicle market in China is shifting in response to government policy. The current single major market driver is the continued elimination of NSIII vehicles. The impact was expected to weaken entering 2021, but the policy is being expanded to also impact NSIV vehicles in major geographic areas. Other factors influencing vehicle demand include a new axle-based highway tolls 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 wholesale data, alternative fuels by CV application, market share percentage, industrial policy impacts and the competitive landscape.
SIC is affiliated with the National Development and Reform Commission of China and is engaged in research on the macroeconomy, key industries and information technology.
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