China Truck Market Report 2016- industry Size, Share, Trends, Growth Analysis Forecast

China Truck Industry Report, 2014-2017 by SinoMarketInsight forecasts that during 2014-2017 China’s truck sales volume will register a CAGR of 8.7%, and reach 3.263 million vehicles by 2017. The truck, which enjoys the highest proportion in terms of output and sales volume among commercial vehicles, is highly closed to the development of macro-economy. In 2013, China’s truck output rose by 3.3% year on year to 2.705 million, compared with sales volume of 2.726 million, up 2.8% from a year earlier. During January to April 2014, China produced 1.012 million trucks, edging up 1.8% year on year, and sold 994,000 vehicles, down 0.5% from the same period of last year.\

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The truck market is heading for a period of relatively slow growth, as China will continue to restructure its macro-economyover the upcomingsyears. Seen from market segments, heavy-duty truck embraces the fastest growth rate. In the first four months of 2014, a total of 91,000 heavy-duty trucks were sold in China, increasing by 14.4% year on year; by comparison, sales volume of light truck, which has the largest output and sales volume, were 650,000 during the same period, up only 0.5% year on year.