高盛：中国机械行业_卡车与发动机_上调行业展望；相较于中国重汽（建议卖出），更青睐潍柴动力（建议买入）

1 April 2025 | 5:47PM HKT China Machinery: Trucks & Engines Raising industry outlook; Prefer Weichai Power (Buy) over Sinotruk (Sell) In this report, we raise our China industry forecasts for heavy-duty trucks (HDTs) and fine-tune our powertrain mix assumptions, after incorporating the latest truck replacement polices (see our comments here and here) and trends seen ytd (see our trip takeaways), which have reaffirmed our view that China's HDT industry is off to a multi-year upcycle driven by the normalizati ...