BEIJING – Heavy-duty truck sales in September dropped about 17 percent to around 53,000 units, much lower than expected, according to a cvworld.cn report citing manufacturers’ data.
Sales in the first nine months reached roughly 580,000 units, up only 2.4 percent, or less than half the rate of growth for the first eight months, which was 4.9 percent.
Sluggish end-user demand led to gloomy sales. PMI in September was 51.1 percent, same as that of August. New order index dropped 0.3 percentage point from August to 52.2 percent, while import index also decreased 0.5 percentage point to 48 percent, indicating weak domestic demand. Export index increased 0.2 percentage point to 50.2 percent in September, indicating better external demand.
As the real estate industry has been destocking in recent months, demand of iron, steel and imported ore kept on decreasing, which led to a depressed heavy-duty truck market.
According to data from China Association of Automobile Manufacturers, the country sold 627,789 heavy-duty trucks in the first 10 months of 2013. If October 2014 sales remain flat with that of 2013, sales through October this year may rise less than 1 percent, and sales for the year are likely to be flat or even fall compared with last year.