Pickup truck market in China expands in 1st 3 months of 2024
Date
4/21/2024 8:17:10 AM
(MENAFN) In the first quarter of 2024, China's pickup truck market experienced notable expansion, with both production and sales witnessing significant increases, according to industry data released by the China Association of Automobile Manufacturers. During this period, production of pickup trucks in the country surged by 8.6 percent year on year, reaching a total of 128,000 units. Simultaneously, sales of pickup trucks also saw a notable uptick, rising by 8.1 percent year on year to reach 135,000 units.
An analysis of the data further reveals that the top 5 pickup truck manufacturers in China played a pivotal role in driving the market's growth trajectory. Combined sales from these leading manufacturers reached 106,000 units, reflecting a robust increase of 11.9 percent compared to the same period in the previous year. Notably, these top manufacturers accounted for a substantial share of the total pickup truck sales, amounting to 78.6 percent of the overall market.
In the broader context of China's automotive industry, the positive performance of the pickup truck market contributed to the overall growth momentum in the sector during the first quarter of 2024. Despite various challenges and uncertainties, China's auto sales recorded a commendable increase of 10.6 percent year on year, totaling 6.72 million units. Similarly, auto output also registered a noteworthy growth of 6.4 percent year on year, reaching approximately 6.61 million units.
The data underscores the resilience and vitality of China's automotive sector, as well as the strong demand for pickup trucks in the domestic market. With continued innovation, investment, and strategic collaborations, China's pickup truck market is poised for further expansion, driving the overall growth and competitiveness of the country's automotive industry.
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