, according to a report published by ACT Research and China's State Information Center.
The China Commercial Vehicle Outlook reports that sales of both heavy- and medium-duty trucks grew from the year-ago quarter. Sales of heavy-duty tractors were up 96 percent in China from the third quarter of 2008 and up 63 percent from the second quarter of 2009. The report increased forecasts in each segment for 2009 and 2010.
"Increasing demand for freight services is pushing up freight rates and increasing demand for heavy-duty tractors," said Ken Vieth, senior partner with ACT. "This trend is likely to continue as increased consumer and export activity are beginning to replace centrally planned infrastructure investment as the driving force behind growth of the China economy."
The China Commercial Vehicle Demand Outlook is published jointly by ACT and SIC and released quarterly. The next issue will be published in early March 2010.
More info: www.actresearch.net.