The pace of China`s economic growth saw an uptick in Q3 2013, finishing the quarter with real GDP increasing 7.8% year over year, according to the most recent China Commercial Vehicle Outlook.
The report is jointly published quarterly by Americas Commercial Trucking (ACT) Research and SIC, China`s State Information Center. It includes an overview of the China economy and a review and forecast of China`s heavy- and medium-duty truck and bus markets, as well as analysis of OEM market shares within China.
[Heavy truck and tractor growth was spurred by replacement demand and a steady macro economy," says Frank Maly, director – CV Transportation Analysis and Research at ACT.
[Medium truck sales, while faring well, grew at a more moderate pace. Meanwhile, domestic sales of large and medium buses fell significantly, down 27.9% year over year, as a result of Q2 prebuys. The forecast is for heavy and medium truck markets to continue to grow in the near-term, although modestly."
SIC is affiliated with the National Development and Reform Commission of China and is engaged in research on the macro-economy, key industries and information technology.