The February slowdown was caused by the fact that customers paused the acquisitions during the Lunar New Year Holiday week, that fell on February this year - as opposed to last year’s situation, when it happened in January.
During the first two month of the current year, the commercial vehicle segment surged 77.87 percent year on year, totaling 616,800 units. The vehicle production also increased by 88 percent to 657,700 units.
Dongfeng Motor was the top selling commercial vehicle manufacturer in February. The first ten vehicle producers in the country sold 191,000 vehicles last month, reaching a 71 percent market share. The statistics for the first two months of the year show that the 10 brands registered a 70 percent market share, managing to reach a sales volume of 430,000 units.
The overall Chinese automotive market (this includes the passenger vehicles) grew by 46 percent in February, totaling 1.21 million units. In January, the Chinese overall automotive sales reached a figure of 1.6 million units, more than double than the sales volume registered in January 2009.
The Chinese automotive producers have great expectations for 2010, as they plan to continue the growth registered last year. Many of them posted highly successful 2009 financial results. For example, one of China’s top commercial vehicles producers, Beiqi Foton Motor, recently announced that its 2009 net profit tripled, reaching a figure of $152.3 million. The manufacturer saw a 47 year on year sales increase last year, when it sold 602,021 units.
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