Performance was mixed in China's commercial vehicle market during Q2'11. Sales of medium-duty trucks was strong, while the heavy-duty sector languished.
Heavy-duty construction oriented trucks, as well as heavy trucks and tractors, all posted weak results when compared to the previous quarter. However, domestic sales of medium duty trucks reached all-time record levels, while domestic sales of large and medium buses grew 17.4% quarter-to-quarter. China's real GDP grew 9.5% year-over-year in 2Q11, a decline of 0.2 points from the previous quarter's growth and the lowest quarterly growth posted since Q2'09.
"Inflation remains a problem for China even though the economy is expected to grow at a slower pace throughout the second half of the year," says Frank Maly, director of CV transportation analysis and research at ACT. "The heavy-duty market is forecast to grow less than 1% year-over-year in 2011, with large and medium buses posting a 6.3% annual decline. However, the medium duty segment will remain healthy, growing over 11% year-over-year."
For more information on ACT and the China Commercial Vehicle Outlook report, please visit www.actresearch.net
Heavy-duty construction oriented trucks, as well as heavy trucks and tractors, all posted weak results when compared to the previous quarter. However, domestic sales of medium duty trucks reached all-time record levels, while domestic sales of large and medium buses grew 17.4% quarter-to-quarter. China's real GDP grew 9.5% year-over-year in 2Q11, a decline of 0.2 points from the previous quarter's growth and the lowest quarterly growth posted since Q2'09.
"Inflation remains a problem for China even though the economy is expected to grow at a slower pace throughout the second half of the year," says Frank Maly, director of CV transportation analysis and research at ACT. "The heavy-duty market is forecast to grow less than 1% year-over-year in 2011, with large and medium buses posting a 6.3% annual decline. However, the medium duty segment will remain healthy, growing over 11% year-over-year."
For more information on ACT and the China Commercial Vehicle Outlook report, please visit www.actresearch.net
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