TRUCKS MARKET * China -
* China - Truck makers pin hopes on urbanization amid slump
(Photo from China Daily: Foton performs well in heavy-duty trucks despite a slowing growth in the market)
Beijing,China -Ecn/China Daily, by Qindexing -11 Nov 2013: -- Industry analysts say prospects for Chinese truck manufacturers overseas still look grim because of high barriers to entry in mature markets like Europe and the United States coupled with a saturation of Chinese brands in traditional export destinations like the Middle East and South Africa... But these truck makers have found a silver lining in China's latest efforts to push forward urbanization... Heavy-duty trucks are always needed at the growing number of construction sites around the nation. People from the countryside in central and western China are expected to swarm into small cities, creating a large demand for infrastructure and the tools to build it... Figures from China's National Bureau of Statistics show that the nation's urban population increased by 12 percent between 2002 and 2011. It is now increasing by 20 million every year, according to the Ministry of Housing and Urban-Rural Development... According to China ministry's institute on industrial research, heavy-duty truck deliveries grew by 12 percent year on year during the first eight months to 503,100... Beiqi Foton Motor Co, the largest commercial vehicle manufacturer in China by sales, is among those eager to capitalize on this opportunity. During the first eight months, Foton sold 73,900 heavy trucks, up 27 percent from a year ago...
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