Due to the spring festival holiday, coupled with the overall downturn in market demand, the commercial vehicle market in February and most of the segments showed a year-on-year decline trend, and the European light passenger segment is no exception.
According to the latest data from the First Commercial Vehicle Network, in February 2022, the European light passenger industry in mainland China sold 12,400 vehicles of various types, a slight decrease of 3.4% over the same period last year. In the unfavorable environment of the rapid decline of the overall commercial vehicle market, sales can still be kept almost flat, and European light passengers are particularly difficult.
Overall, the market in February did not have too many bright spots, and the reason why the market was able to achieve basic flatness was, on the one hand, various manufacturers and dealers made inventory and stockpiling for the traditional peak season, on the other hand, after the Lantern Festival, the demand for user replacement in some areas was started one after another. In this month, three of the top six companies in the industry achieved contrarian growth, namely SAIC Maxus (an increase of 24% year-on-year), Foton Tuyano (33.9%) and JAC Xingrui (20.6%). However, due to the sluggish market in January, the cumulative sales volume in January-February 2022 still fell by 17.7%, and companies are preparing for the arrival of the traditional peak season in March and May.
