Heavy-duty Truck Sales in China Fall 57 Percent on Year in January

In January this year, sales of heavy trucks in China declined 57 percent on year to a total of 78,000 units compared to 183,400 units in the same month last year, while up 36 percent month on month. Besides, the full-year China sales of heavy-duty trucks in 2021 reached 1395,000 units, down 14% on year.

Chinatrucks noted that multiple factors contributed to poor sales number for heavy-duty trucks in January. Those included:

1. The sales of heavy-duty trucks indicated a big year-on-year decline in January primarily because of the high base of comparison in the same month last year, which hit a record high of 183,400 units for last January.

2. In December 2021, heavy truck sales in China dropped by 47.5% year-on-year to 57,500 units, with sales only slightly higher than the number in August, October and November of that year, and lower than the 58,200 units monthly average in the second half of 2021. This is one of the main reasons why January has seen an increase on a monthly basis. 

3. As Chinese New Year holiday approaches, the demand for heavy-duty trucks remains at weak levels, coupled with some factors like insufficient supply, limited production, more trucks than goods, less infrastructure projects, high stock have persisted since May, 2021.