, according to a report published by ACT Research and China's State Information Center.
The China Commercial Vehicle Outlook reports that sales of heavy-duty tractors improved from the first quarter, but sales still lagged behind prior year levels due to a weak export market. The report increased in the forecast in each segment for full year 2009 and 2010.
"Policy makers in China have used significant capital infusions for infrastructure investment to spur economic growth despite the declines in export business," said Ken Vieth Jr., ACT partner and senior analyst. "With exports expected to turn upward in the fourth quarter, we project the CV market to see steady growth over the five-year forecast horizon."
ACT publishes commercial vehicle industry data, market analysis and forecasting services for the North American market.
More info: www.actresearch.net.