(Yicai Global) Oct. 10 -- China's heavy truck market has grown rapidly since the third quarter.
Sales last month exceeded 100,000 vehicles for the first time in history, up 89 percent annually, while four consecutive months have also registered record-setting volumes.
The domestic heavy truck market has seen 97,600, 90,200, 93,700, and 100,000 vehicles sold in each month of the quarter, respectively, to set a single-month record over the previous peak period in 2010, Cvworld.cn reported. The heavy truck market has been growing at a rate of 80-plus percentage points for three straight months.
Five firms sold more than 10,000 heavy trucks in September, compared to four enterprises in August. Among these, Faw Jiefang, a heavy truck brand affiliated to state-owned automobile giant China FAW Group Corp., sold 23,000 heavy trucks, ranking first. It was the only heavy truck brand that sold more than 20,000 vehicles for three straight months.
The main cause of this rapid growth is the ongoing revival of the manufacturing sector, which has in turn led to rising demand for goods transport, Cvworld.cn noted. The Purchasing Managers Index (PMI) for manufacturing was 52.4 percent last month, an all-time high since May 2012. Government regulation of the heavy truck industry is also a positive factor contributing to this growth.
Total heavy truck sales for the entire year are set to surpass 1.1 million units, eclipsing the 1 million vehicles moved in 2010, the website projects.