This report covers the Chinese market for commercial vehicles - trucks, buses, vans and minivans. It includes vehicles powered by petroleum, diesel and new forms of fuel, such as liquid petroleum gas (LPG), electricity and other fuels.
China’s market for commercial vehicles is the largest in the world. The China Association of Automobile Manufacturers (CAAM) estimates that out of the 3.25 million vehicles sold in China in 2002, well over two million were commercial vehicles such as trucks, buses and vans. Surging auto sales have sparked a rash of new investments by foreign auto makers since the 2002, with the likes of Hyundai of South Korea and Japanese firms Nissan and Toyota announcing massive expansion programmes for their mainland operations. China’s auto manufacturing base is now forecast to soar, with vehicle production surpassing that of South Korea, France, Spain, and Canada by 2004 – and going ahead of Germany to reach six million light vehicles by 2008. By 2015, China is expected to overtake Japan, putting it just 3-4 million units behind the US, which it could pass by 2020. Commercial vehicles will contribute significantly to China’s auto market. Foreign-invested joint ventures (JVs) and wholly owned foreign enterprises (WOFEs) now produce an increasing proportion of the commercial vehicles manufactured in China.