China’s pickup truck market is expected to post the best sales in two years in 2017 as demand improves amid stable economic conditions, according to an industry report released yesterday by the China Passenger Car Association.
Sales of pickup trucks in China are expected at 450,000 units this year, up 29 percent year on year, said the report published on the official website of the association.
In the first eight months of this year, sales of pickup trucks hit 250,846 units, an increase of 12.7 percent from the same period of last year, according to data from the association.
“China’s pickup market has increased gradually since the second half of last year. This year, sales of pickup trucks are expected to rise due to sustainable development of China’s macro-economy,” said Yang Zaishun, an industry professional.
The association said higher expectations for sales of pickups are due to improving demand. Sales of pickups are predicted to further grow next year, with sales estimated to exceed 500,000 units in 2018, according to the association.
China is the largest auto market in the world. Around 28 million cars were sold in 2016, according to the China Association of Automobile Manufacturers. Pickups account for 1.5 percent of China’s vehicle sales, but it has great opportunity and potential to grow in the huge Chinese market.
In the first eight months, sales of pickups from Great Wall Motor Co accounted for 28 percent of the total market, and sales of Jiangling Motors Co took up 17 percent.