Annual growth rate of commercial vehicles in China will reach 10%
2021-03-30 12:03:24
KPMG recently pointed out that apart from cars, the sales of commercial vehicles in China, such as trucks and passenger cars, have also been growing at a rapid rate, which has led to the growth of commercial vehicle companies in the Mainland. The commercial vehicle market in the Mainland has entered an active period for mergers and acquisitions, and there will be more in the future. Commercial vehicle companies listed for fundraising.
KPMG said that China’s commercial vehicles have always been ignored by the market. In fact, China’s commercial vehicles also account for half of the automobile market in the Mainland. Last year, total sales of commercial vehicles, including trucks and buses, accounted for 46% of China’s total automobile production. Total commercial vehicle sales in the first half of the year It also reached 1.5 million vehicles. KPMG predicts that in the long run, the annual growth rate of commercial vehicles in China will reach 10%.
KPMG analyzed that unlike the active and segregated foreign car market, China’s commercial vehicle market is dominated by local brands, and the mainland manufacturers’ market share is as high as 95%, forming a major manufacturer. Taking the heavy truck market as an example, the market share of Dongfeng and FAW reached 30% and 24% respectively. In the small passenger car market, the market share of Jinbei and Dongfeng also reached 30% and 12% respectively.
The production of commercial vehicles in the Mainland has entered an era of rapid growth in exports. According to statistics, from 2001 to 2005, China's commercial vehicle exports grew at a compound annual rate of 80%. Last year, the total exports amounted to 118,000 units, with a total amount of approximately US$1.17 billion. Exports to countries reached more than 70 countries. KPMG believes that Chinese domestic manufacturers are preparing to expand their sales force, not only in smaller markets such as the Middle East and Africa, but also in Western Europe, North America and other markets.
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