By: MOS Education Team — cancan
Since Communist China joined the World Trade Organization (WTO), its auto market once surpassed the United States to become the world’s largest auto market. However, starting in 2019, Communist China’s auto market entered the end of its rope, with the passenger car market leading the decline, while the commercial vehicle market also experienced a sharp decline, with the heavy truck market falling more than 60 percent year-over-year in November 2021.
Currently, the overall freight market is still deteriorating, with declining consumer purchasing power leading to lower freight demand and rising raw material prices, resulting in higher freight costs, the heavy truck market will continue its previous downward trend in 2022.
Article: Communist China’s Heavy Truck Market Continues to Deteriorate
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