The China heavy- and medium-duty commercial vehicle (CV) markets continued to grow during the third quarter of 2009, as infrastructure investment and the beginning of a rebound in exports drove increased demand for trucks, according to a report published by ACT Research Co., LLC, (ACT) and China's State Information Center (SIC).
The recently released China Commercial Vehicle Outlook notes that sales of heavy- and medium-duty trucks in the third quarter were up solidly on a year-over-year basis. With a slight shift toward freight hauling versus construction, heavy-duty tractors had the strongest performance, up 96 percent from last year’s third quarter and up 63 percent from the second quarter of 2009. The report increased the forecast in each segment for full year 2009 and 2010.
“Increasing demand for freight services is pushing up freight rates and increasing demand for heavy-duty tractors,” said Ken Vieth, Senior Partner with ACT. “This trend is likely to continue as increased consumer and export activity are beginning to replace centrally planned infrastructure investment as the driving force behind growth of the China economy.”
The China Commercial Vehicle Demand Outlook is published jointly by ACT and SIC and released quarterly. The next issue will be published in early March 2010.
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. The Business Consulting Center, a division of DIC, specializes in auto market industry research.