Commercial vehicle sales in China rise 10.1 percent YoY in January-March
Date
4/21/2024 8:11:56 AM
(MENAFN) In the first quarter of 2024, China's commercial vehicle sector experienced notable growth, as indicated by data from the China Association of Automobile Manufacturers. During this period, the total sales of commercial vehicles in the country rose by 10.1 percent compared to the same period in the previous year, reaching a significant milestone of 1.03 million units sold. This figure encompasses both trucks and coaches, with trucks accounting for the majority of sales at 919,000 units, while coach sales amounted to 114,000 units.
The positive growth trends were evident across different segments of the commercial vehicle market, with both trucks and coaches posting impressive increases in sales. Truck sales saw a robust 9.7 percent year-on-year growth, reflecting sustained demand for transportation and logistics services across various industries. Similarly, the coach segment witnessed a notable surge in sales, with a 13.6 percent increase compared to the previous year, indicating continued investment in passenger transportation infrastructure and services.
In addition to the strong domestic market performance, China's commercial vehicle exports also demonstrated significant growth during the first quarter of 2024. Exports surged by 27.5 percent year on year, reaching a total of 214,000 units. This surge in exports underscores China's growing influence in the global commercial vehicle market and its ability to compete effectively on an international scale. The data suggests that Chinese manufacturers are increasingly capturing market share in overseas markets, driven by the quality and competitiveness of their products.
Overall, the robust performance of China's commercial vehicle sector in the first quarter of 2024 reflects the resilience and dynamism of the country's automotive industry. With sustained domestic demand and expanding international presence, China continues to play a significant role in driving the growth and development of the global commercial vehicle market.
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