China Truck Slowdown Accelerates
China’s GDP decelerated more than expected in the second quarter of 2012, according to the most recent China Commercial Vehicle Outlook, jointly published quarterly by ACT and SIC, China’s State Information Center. It includes an overview of the China economy and a review and forecast of China’s heavy- and medium-duty truck and bus markets, as well as analysis of OEM market shares within China.
China’s GDP grew at 7.6%, the slowest pace since early 2009. While this led to a drop in production of heavy trucks, the bus market remained strong, bolstered by holiday travel demands and an increase in income that grew passenger traffic during the first quarter, the report indicated.
"Domestic factors as well as the European debt crisis had a negative influence on China’s GDP," said Frank Maly, director of commercial vehicle transportation analysis & research at ACT. "China’s real estate investment slowed, leading to a rapid decline in overall investment growth. Also, regulations and stimulus policies were allowed to expire, pending the upcoming 10-year leadership change scheduled next March.The European debt crisis and RMB appreciation brought a continued pullback in exports."
Indiana-based ACT is a global publisher of new and used commercial vehicle (CV) industry data, market analysis and forecasting services for the North American and China commercial vehicle markets.
For more information: www.actresearch.net