COLUMBUS, Ind. — The commercial vehicle market in China is booming.
The China Class 4-8 medium- and heavy-duty commercial truck and bus markets posted strong sales in the fourth quarter, pushing annual sales to over a million units for the year, according to a report published by ACT Research and China’s State Information Center.
Sales in the fourth quarter of 09 were up solidly year-over-year compared to a weak Q4 2008, the report indicates. Leading the way was demand for heavy-duty straight trucks, which saw a 22% increase in demand.
The report’s authors suggest heavy-duty tractor demand will grow 27% in 2010.
“A slight recovery in global trade and increasing domestic consumption in China are boosting demand for freight services,” said Ken Vieth, senior partner with ACT. “The need for more freight hauling capacity is supplanting a modest slowdown in construction activity from China’s infrastructure initiatives. This is having the effect of keeping overall commercial vehicle demand high, although creating some changes in the vehicle mix.”
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