Growth slows in China's heavy truck market

摘要

The slowdown in China's economic growth is likely to slow the rate of upgrade of the country's fleet, reported Truck Industry Research Ltd. and JSC Automotive (Shanghai) at IAA. European, Japanese and Korean truck makers such as Daimler, Volvo and Hyundai are among those who have recently set up joint venture agreements to take advantage of the Chinese market. ButTIR points out that heavy trucks have failed to live up to the promise of the peak year of 2010, when over 1 million units were sold. In fact, many market participants now expect the market for the next five years to be essentially flat at a little more than the 770,000 units sold in 2013.