The slowing growth of China’s economy continued to act as a constraint on commercial vehicle demand at the end of 2014, according to a report published by US company ACT and China’s State Information Centre (SIC).
Reportedly, the pace of growth of China’s economy during the third quarter slowed from one year ago, declining to 7.3 per cent from 7.8 per cent.
“Investments, which drive truck demand, were relatively strong, but experienced some cooling in Q3,” said Frank Maly, Director, CV Transportation at ACT. “Heavy and medium truck markets will remain subdued in the near-term.”
Domestically, 129,000 heavy trucks and tractors were sold in Q3’14. Maly did not comment on the possible effects on the articulated trailer market.