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ShareCOLUMBUS, Ind. -- Sales of heavy-duty commercial vehicles in China reached 1.015 million units in 2010, a 60 percent increase over 2009 volume.
For the fourth quarter of the year, 226,500 units were sold, a 23 percent increase over the same quarter of 2009 and an 11-percent increase over the third quarter of 2010, reports ACT Research.
The medium duty truck and medium and heavy-duty bus segments resulted in another 430,000 units being sold.
"After the peak of 2010, we expect the China commercial vehicle market to decline in 2011," said Kenny Vieth, president and senior analyst with ACT. "After that market pause, sales are expected to return to a slow-growth path beginning in 2012."
Other highlights in ACT's recent China Commercial Vehicle Outlook report include:
Export weakness and strength in domestic consumption will dominate the economy of China during most of the year.
Inflation has become a major point of concern for the Chinese economy.
Major emphasis will be given to alternate energy vehicles, high-end equipment manufacturing, and advanced materials development.
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