China's commercial vehicle sales will soon be growing lustily again after a dip in 2005.

It is believed the market has bottomed out and will soon recover its long-term growth trend of around 10 percent per year.

Statistics show that the industry had a compound annual growth rate of more than 10 percent from 1997 to 2004 but dropped slightly last year.

Sales dipped in 2005 as a result of the Chinese government's austerity measures to discourage over-investment in fixed assets.

Commercial vehicles sold last year -- both delivery and passenger vehicles -- accounted for 46 percent of the country's total auto output.

Sales of trucks and buses rebounded by 8 percent in the first six months of this year compared with the same period
last year.

China sold 1.5 million commercial automobiles in the first half of the year, with mainland manufacturers capturing a market share of 95 percent.

Statistics show that exports of China's commercial vehicles also soared, with the compound annual growth rate from 2001 to 2005 hitting 80 percent.

Last year, 118,000 commercial vehicles worth 1.17 billion U.S. dollars were exported to more than 70 countries.

It was predicted that Chinese producers would increase their sales in Western Europe and North America as well as in smaller markets like the Middle East and African countries.

Meanwhile, more acquisitions, mergers and listings are expected for domestic producers.

Source:佚名