Commercial Vehicle Demand in China Softens

The pace of China’s economy rose slightly in Q2’14, with growth of 7.5% on a year over year basis, mirroring the rate witnessed in the same period last year according to the most recent China Commercial Vehicle Outlook, jointly published quarterly by ACT and SIC, China’s State Information Center.

“We expect that China will maintain economic growth in the 7.5% range in the short to intermediate term,” said Frank Maly, Director – CV Transportation Analysis and Research at ACT. “Inflationary pressure will remain low. The resulting impact will be a softening in commercial vehicle demand in 2014, with 2015 continuing at a similar volume level,” he added.

For perspective, full-year 2013 real GDP growth was 7.7%, down slightly from 7.8% in 2012, 9.3% in 2011 and 10.4% in 2010.

 

Category: General Update