Heavy-duty truck sales down 22.4% in May

China’s heavy-duty truck market declined further in May, as sales plummeted 22.4 percent to 83,036 units compared with the same month in 2010, according to data released by China Association of Automobile Manufacturers (CAAM) on June 9.

Over the first five months, sales totaled 479,489 units, which represented a 2.29 percent drop compared with the same period a year ago, when the market soared 90 percent. Semi-tractor trailers, the fastest growing vehicle type within the heavy-duty truck segment last year, took a further hit in May as sales dived nearly 39 percent to 24,152 units, while January-May sales slid 27.54 percent to 121,300 units.

 

Results were mixed among leading heavy-duty truck manufacturers (see SIDEBAR). FAW Group, last year’s sales leader, saw sales drop more than 30 percent to 76,272 units. JAC’s sales surprisingly doubled year-on-year, the fastest among established heavy-duty truck makers, while newcomer Dayun Motor saw sales skyrocket to 5,386 units to move into the Top 10. Together the Top 10 heavy-duty truck manufacturers accounted for over 96 percent of the market over the first five months.

In order to avoid a negative growth, which some analysts predict may be as severe as 15 percent, the market needs to average about 77,000 units per month over the remaining seven months of the year to at least match last year’s record-breaking 1.02 million units sold.