Growth rate for China's CV market brought out by MRS research

According to a research by MRS (Materials Research Society), commercial vehicle sales in China are expected to grow by 6% over the period of 2014 to 2017, reaching 5.12 million in 2017. This development is closely related to the country's macro economic status. In 2013 the growth rate of China’s GDP fell to 7.7%, while the CV market saw a drop in its sales growth, which touched around 6 to 7%. The truck market continued to suffer due to slower infrastructure and construction projects. In 2013, the figures for output and sales volume for trucks in the nation came to 2.705 million and 2.726 million separately, giving a year-on-year growth of 3.3% and 2.8% respectively.

A moderate growth trend is expected over the next few years, owing to the current trend of the nation's macro economy. Meanwhile, tourism and other factors caused a positive impact on the country's bus market. In 2013 output and sales volume of bus came to 4,83,000 and 4,77,000, having risen by 13.4% and 12.0% from the previous year. Experts predict that the bus market would continue to grow in coming days, at an estimated average growth rate of around 10% in 2014-2017.