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May heavy-duty truck market tumbles 34 percent

BEIJING – China estimated selling 54,800 heavy-duty trucks in May, a slump of 34 percent compared with the 83,036 units sold in the same period last year, reported cvworld.cn.

The top three makers Dongfeng, CNHTC and FAW Jiefang sold 12,330, 8,100 and 7,800 units respectively, down 25, 26.4 and 38.5 percent year-on-year. Shaanxi Auto had the slightest drop of 18.7 percent, ranking second in the May sales list by selling 9,400 units. Foton Auman, on the other hand, fell 37.7 percent to 7,000 units in the same month.

Beiben, JAC, SAIC-IVECO-Hongyan and CAMC Hualing sold 2,206, 2,400, 1,425 and 1,288 units respectively in May, down 48, 44.1, 60.5 and 54.2 percent on a yearly basis, being the heaviest hit group in the heavy-duty truck market.

Sales of top 10 heavy-duty truck makers in May 2012 (in units)

 

China’s heavy-duty truck market did not recover as expected despite the news of major project reconstruction and investment. Premier Wen Jiabao emphasized on May 23 at the State Council executive meeting to maintain economic growth and to launch a bunch of major projects. It is also reported that the National Development and Reform Commission and the development and reform commissions at provincial and city levels sped up the approval of a wide array of projects covering different segments after the meeting.

However, as authorized institutions denied the mass investment plans in June, macroeconomic expectation and investor confidence went straight back down again. According to sources from cvworld.cn, the country’s heavy-duty truck market may see its lowest level in June and July with monthly sales of around 50,000 units. And the uncertain second half performance still depends on follow-up policies by the government. 

 

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