智通财经网·2026-02-24 03:05Group 1: Heavy Truck Market Outlook - In 2025, the heavy truck wholesale sales are expected to reach 1.144 million units, representing a year-on-year increase of 26.8% driven by the "old-for-new" policy, with domestic sales projected at 799,000 units (+32.7%) and exports at 341,000 units (+17.4%) [1] - The heavy truck industry is entering a new upward cycle after three years of decline, with strong demand from non-Russian regions such as the Middle East and Southeast Asia becoming key growth drivers [2] - The proportion of diesel heavy trucks is declining, while natural gas heavy trucks are expected to maintain stable growth, and new energy heavy trucks are anticipated to lead sales growth [2] Group 2: Bus Market Outlook - The bus industry is entering a new cycle characterized by "domestic demand stabilization and high export growth," with wholesale sales of large and medium buses projected at 122,000 units in 2025, a year-on-year increase of 5.1% [3] - Domestic sales of large and medium buses are expected to be 65,000 units (-10.6%), while exports are projected at 59,000 units (+34.6%), with strong performance in the new energy bus segment [3] - In 2026, the bus market is expected to see continued domestic demand growth, with wholesale sales projected at 146,000 units (+20.0%) and exports at 78,000 units (+32.0%), driven by the "old-for-new" policy and increasing penetration of new energy buses in overseas markets [4]