China’s Heavy and Medium Commercial Vehicle Markets Reported an Uptick in Sales

Impact of COVID-19 continues to abate, strengthening the economy, the commercial vehicle market in China is shifting in response to government policy

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 2020’s third quarter, following the ground lost from the severe setback in Q1’20 due to the COVID-19 virus 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 single major market driver currently 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 as we look toward 2021 include a new axle-based highway tolls structure, continuing modal shifts toward water and rail, and the ongoing shift to e-commerce.

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.

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