Chinese Economy, Truck Market, On the Rise
According to a new report from ACT Research, the Chinese economy in general, and its truck market specifically, are on the rise.
The authors noted that the pace of China’s economic growth saw an uptick in Q3’13, finishing the quarter with real GDP increasing 7.8% year over year, according to the most recent China Commercial Vehicle Outlook, jointly published quarterly by ACT and SIC, China’s State Information Center.
It also includes an overview of the China economy and a review and forecast of China’s heavy and medium-duty truck and bus markets, as well as analysis of OEM market shares within China.
“Heavy truck and tractor growth was spurred by replacement demand and a steady macro economy,” said Frank Maly, Director – CV Transportation Analysis and Research at ACT. “Medium truck sales, while faring well, grew at a more moderate pace. Meanwhile, domestic sales of large and medium buses fell significantly, down 27.9% year over year, as a result of Q2 prebuys,” he added. “The forecast is for heavy and medium truck markets to continue to grow in the near-term, although modestly.”
More information at: http://www.actresearch.net.
Category: General Update, Vehicles
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