China heavy truck market still sluggish in May

Shanghai, July 2 (Gasgoo.com) China's heavy-duty truck market remains sluggish in May, despite growing output and sales of the medium, light, and mini trucks during the month, Xinhua reported yesterday.

May output of heavy-duty trucks (including incomplete vehicles) reached 36,800 units, down 28.58% month on month and 11.36% year on year. Sales totaled 41,200 units in May, down 17.69% m/m and 11.55% y/y.

To be specific, output and sales of complete heavy-duty trucks each respectively reached 10,100 units and 11,600 units, down 25.42% and 16.27% y/y. As for incomplete heavy-duty trucks, output and sales are respectively 26,700 units and 29,600 units, down 4.54% and 9.57%.

In the first five months, Sinotruk Group sold 48,600 heavy-duty trucks, Dongfeng Motor Corp 28,100 units, FAW 25,000 units, Shaanxi Auto 22,300 units, Beiqi Foton 13,400 units, and SAIC-Iveco Hongyan 10,400 units.

As for medium trucks, May output jumped 19.86% y/y to 24,500 units, but still down 28.4% from April. Sales rose 17.71% y/y to 26,700 units, but down 13.61% m/m.

Light truck market growth slowed down in May. Output and sales of light trucks each respectively increased 11.28% and 13.25% y/y to 128,800 units and 129,300 units.

Mini trucks achieved a robust growth in May. Mini truck output and sales each respectively surged 75.2% and 77.51% y/y to 52,400 units and 51,100 units.