With a freight transportation slump and operational costs rising, China’s heavy duty market continued the downward spiral that began last year, according to the recently released China Commercial Vehicle Outlook, which is jointly published quarterly by ACT and SIC, China’s State Information Center.
The report 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.
“Continued weakness in freight economy has led to a significant pull-back in China’s heavy-duty truck production,” said Kenny Vieth, president and senior analyst at ACT.