US research company ACT is expecting China’s commercial vehicle industry to remain subdued in 2015, even though the country’s economy grew slightly in the second quarter of 2014.
“We expect that China will maintain economic growth in the 7.5 per cent 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 per cent, down slightly from 7.8 per cent in 2012, 9.3 per cent in 2011 and 10.4 per cent in 2010.