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China Automobile Manufacturers Association Reports 19.8% Surge in Commercial Vehicle Sales Over 10 Months

The China Automobile Manufacturers Association has unveiled a robust surge in commercial vehicle sales over the first ten months of 2023, marking a significant 19.8% year-on-year increase to reach an impressive 3.3 million units.

According to Xinhua news agency, the association’s data indicated a substantial rise in truck sales, up by 19.5% year-on-year, totaling 2.91 million vehicles. Meanwhile, sales of buses during the same period displayed remarkable growth, reaching 389,000 vehicles, marking an increase of 22.2% from the previous year.

The period spanning January to October 2023 also witnessed a noteworthy uptick in China’s export numbers for commercial vehicles. The country exported 616,000 units, reflecting a substantial 28.3% surge compared to the corresponding period in the previous year.

The report signifies a robust and resilient commercial vehicle market in China, showcasing substantial growth across both domestic sales and exports. This surge underscores the nation’s robust economic momentum and the strengthening demand for commercial vehicles, portraying a promising outlook for the automotive industry.

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