China's heavy and light truck sales rose, while medium and micro segments contracted.
Trucks sales slightly up Image: The Tenth Dragon |
According to statistics from the China Association of Automobile Manufacturers, the nation’s truck market is showing reasonable growth year-on-year. In July 2013, production and sales reached 193,800 and 188,500 units respectively, down 2.2% and 14.3% from June, but up 15.7% and 7.5% from the same period in 2012.
Heavy-duty truck sales showed the largest increase, with sales up 25.7% year on year to 48,900 units. Dongfeng, FAW Jiefang and SINOTRUK took the top spots according to market share, followed closely by Foton and JAC. A steady construction industry has helped large truck makers make moderate returns.
Micro trucks fared much worse than heavy-duty vehicles. Production and sales were down 9.2% and 12.1% year on year.
Growth in the heavy-duty diesel oils sector is likely to continue to grow as the government continues to invest in construction. With production increasing and the government stepping up legislative efforts, lubes producers researching new HDDOs will need to ensure their products are well prepared for changing regulations.