Chinese truck market demand began reversing downward trajectory in Q4’22

Chinese truck market demand began reversing downward trajectory in Q4’22

Medium truck and heavy tractor volumes remained under pressure in the year’s final quarter.

Chinese commercial vehicle demand presented a mixed bag of results into the end of 2022. Demand for heavy trucks, medium trucks, and tractors started the process of reversing their downward trajectory as the Chinese economy reopened, according to ACT Research.

Medium truck and heavy tractor volumes remained under pressure in the year’s final quarter but saw improvement relative to year-ago levels, ACT says. While still down compared to last year, heavy truck volumes posted a strong gain in Q4 q/q, boosting overall HD vehicle output. With declines narrowing and easy comps inbound, 2022 is expected to be the lowest point of this demand cycle, ACT says. MD and HD vehicle output is projected to rise 25% in 2023 from 2022 levels.

Economic growth in Q4’22 was mixed as an explosion of COVID cases negatively impacted activity due to a surge of infections after the pandemic control restrictions were lifted. Additionally, falling external demand dampened exports amid slower global growth.

Infrastructure investment was strong but insufficient to drive an uptick in volume against other headwinds, ACT says.

You May Also Like

Daimler Truck N.A., Salem, Electrada partner to electrify logistics

The companies say the partnership builds on growing zero-emission vehicle integration, and furthers commitments to sustainable trucking.

Daimler-Salem-Electrada-EV-Partnership-2

Daimler Truck North America (DTNA) and Salem Carriers, Inc., a contract logistics company, announced a collaboration to electrify DTNA’s inbound logistics operations at the Salem Carriers hub near Charlotte, NC.

Daimler Truck Financial Services (DTFS) is involved in the project, partnering with Electrada, a fleet electrification solutions company headquartered in Cincinnati, OH. The companies say they worked together on an all-in-one Charging-as-a-Service (CaaS) solution with a fixed and predictable monthly rate. This solution, according to the companies, covers development, operation and maintenance of the charging infrastructure as well as the energy contract.

Beyond a one-size-fits-all trucking decarbonization strategy

Much of the responsibility now falls on the fleet, but that should be a welcome change.

2024-ACT-After-the-Show-Floor-1400
Martin Brower expands Volvo EV fleet to deliver to Canadian McDonald’s

Adding 10 Volvo VNR Electric trucks supports McDonald’s goals of reaching net-zero greenhouse gas emissions by 2050.

Martin-brower-McDonald-Volvo-VNR-Electric-truck
Used Class 8 truck sales drop 1.5% amid weaker freight market

In addition to the slight drop in m/m sales, ACT noted a 15% drop in used Class 8 pricing, y/y.

Used-Cl8-Retail-Summary-Heat-Map-May-2024
PGT Trucking adds new facilities in KY, SC

The company aims to offer increased service opportunities for our customers and drivers while expanding its reach in the southeastern U.S.

PGT-Flatbed-Truck-non-specific
Other Posts
Mack delivers LR Electric refuse truck to City of Portland, Maine

The Mack LR Electric offers a standard 376 kWh total battery capacity for 42% more energy and increased range between vehicle charges.

Mack-LR-Electric
Go inside the Kenworth SuperTruck 2

We detail the specs and technology of the Bullet Train-inspired truck and talk through the equipment that could make it to production.

Kenworth-Super-Truck-2-ACT-1400B
Scania Touring variant runs on natural gas, biogas

Able to run on both natural gas, biogas, or a mix of both, this Scania Touring variant helps with sustainable long-distance transport. 

Scania-Touring-variant-natural-gas-biogas-Powertrain-1
Newly opened Prologis, Maersk depot can charge 96 heavy-duty electric trucks

The charging depot is powered by the nation’s largest EV microgrid, and was completed in just five months.

Prologis-Mearsk-EV-truck-heavy-duty-charging-depot