According to the recent release of ACT Research’s China Commercial Vehicle OUTLOOK, China’s heavy and medium commercial vehicle markets reported upticks in sales during 2020’s fourth quarter, following the ground lost from the severe setback due to the COVID-19 virus in Q1’20 and continuing the recovery that started in the second quarter last year.
As the national impact of COVID-19 continues to abate, strengthening the economy, the commercial vehicle market in China is shifting in response to government policy. The single major market driver currently is the continued elimination of NSIII (NS3) vehicles. The impact was expected to weaken entering 2021, but the policy is being expanded to also impact NSIV vehicles in major geographic areas. Other factors influencing vehicle demand as we move through 2021 will include a new axle-based highway toll structure, continuing modal shifts toward water and rail, and the ongoing shift to e-commerce.
The China CV OUTLOOK, jointly published quarterly by ACT and China’s State Information Center (SIC), includes a review and forecast of China’s heavy tractor and heavy and medium duty truck and bus markets, as well as analysis of OEM market shares within China and an overview of the Chinese macroeconomy. This quarterly report also includes access to monthly wholesale data, alternative fuels by CV application, market share percentage, industrial policy impacts, and competitive landscape.
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.
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.
What’s coming next in 2021 and 2022? ACT’s 65th OUTLOOK Seminar is the planning event for your business needs. Mark your calendar for August 24-26, 2021 to gain market updates and forecasts from ACT’s award-winning, veteran team with more than 200 years of combined industry experience. Click here for more details.
ACT’s N.A. commercial electric vehicle study, Charging Forward: 2020-2024 BEV & FCEV Forecast & Analysis, is due to publish March 31, 2021, after months of extensive research. Utilizing industry expertise and analysis, as well as the input from a comprehensive list of key industry study participants, ACT Research has developed a critical guide for battery electric and fuel cell electric unit build and sales forecasts over the next two decades. With coverage of Classes 4-8 commercial vehicles, ACT has identified 14 market subsegments and more than 20 application types; this one-of-a-kind report is a must-have for those investing or investigating electric power opportunities. To learn more or to purchase this report, go to actresearch.net/cv-electrification-study-2021.