Chinese heavy vehicle market growing strongly
China’s heavy vehicle industry increased significantly in the final quarter of 2016, according to ACT Research.
The US-based consultancy, which is working closely with China’s State Information Center (SIC), said domestic demand rose nearly 36 per cent in Q4’16. The previous quarter had already seen a 51 per cent year-over-year expansion.
“Coupled with improvement in market demand, the levelling-out of China’s economy and lower base year comparisons made for what seems like rapid year-over-year recovery in every commercial vehicle segment during Q4’16,” said Robert Perkins, Senior Global Business Consultant at ACT.
“Driven by the continued impact of the GB1589 regulation, the tractor (articulated truck, ed.) segment fared very well in Q4’16, with more than 118 per cent year-over-year growth, compared to 42 per cent in the previous quarter.”
According to Perkins, medium-duty truck sales registered a moderate growth rate of more than six per cent year-over-year in Q4, compared to a “very healthy” 22 per cent year-over-year reported in Q3.
“Driven by the implementation of new energy subsidies, domestic demand for large and medium buses gained sales growth momentum in Q4’16,” he summarised.