Core Viewpoint - The commercial vehicle market in China experienced a mixed performance in July 2025, with a significant month-on-month decline in production and sales, while year-on-year figures showed growth in both categories [1][3][5]. Summary by Sections Commercial Vehicle Performance - In July 2025, commercial vehicle production and sales reached 298,000 and 306,000 units respectively, reflecting a month-on-month decrease of 15.8% and 17.1%, but a year-on-year increase of 16.3% and 14.1% [3]. - From January to July 2025, commercial vehicle production and sales totaled 2.397 million and 2.428 million units, marking a year-on-year growth of 6% and 3.9% [5]. Bus Performance - In July 2025, bus production and sales were 44,000 and 42,000 units, showing a month-on-month decline of 12.3% and 21.2%, while year-on-year growth was recorded at 23.7% and 16.3% [4]. - From January to July 2025, bus production and sales reached 305,000 and 307,000 units, with year-on-year increases of 10.3% and 9.7% [6]. Truck Performance - In July 2025, truck production and sales were 254,000 and 264,000 units, with month-on-month declines of 16.3% and 16.4%, but year-on-year growth of 15.1% and 13.8% [8]. - From January to July 2025, truck production and sales totaled 2.092 million and 2.121 million units, reflecting year-on-year growth of 5.4% and 3.1% [8].

Group 1: Commercial Vehicle Market Overview - In May, production and sales of commercial vehicles showed a decline compared to the previous month, with buses and trucks experiencing different levels of decrease [1] - The total production and sales of commercial vehicles in May reached 336,000 units and 335,000 units, respectively, representing a month-on-month decrease of 7.4% and 8.8% [1] - Year-on-year, bus production and sales increased, while truck production grew but sales declined [1] Group 2: Bus Segment Analysis - In May, bus production and sales were 44,000 units and 43,000 units, respectively, with month-on-month declines of 3.8% and 3.2% [3] - Among bus types, medium buses saw varying degrees of growth, while other categories experienced declines compared to the previous month [3] - Year-to-date, bus production and sales from January to May reached 212,000 units, reflecting year-on-year growth of 5.4% and 5.7% [3] Group 3: Truck Segment Analysis - From January to May, truck production and sales totaled 1.534 million units and 1.54 million units, with year-on-year increases of 4% and 0.6% [4] - In May, truck production and sales were both 292,000 units, with month-on-month declines of 7.9% and 9.6% [5] - Year-on-year, heavy and light truck production and sales showed growth, while medium and micro trucks experienced declines [5]

Summary of Key Points Core Viewpoint - In April 2025, the commercial vehicle market in China experienced a decline in production and sales for both buses and trucks compared to the previous month, while showing slight growth in truck sales year-on-year [1]. Group 1: Commercial Vehicle Production and Sales - In April 2025, commercial vehicle production and sales reached 362,000 units and 367,000 units respectively, reflecting a month-on-month decrease of 16% and 17.9%, but a year-on-year increase of 1.3% and 2.7% [3]. - From January to April 2025, commercial vehicle production and sales totaled 1.41 million units each, marking a year-on-year growth of 4.1% and 2% [3]. Group 2: Bus Production and Sales - In April 2025, bus production and sales both reached 45,000 units, with month-on-month declines of 9.9% and 16.1%, and year-on-year decreases of 0.2% and 0.6% [4]. - For the first four months of 2025, bus production and sales totaled 169,000 units, showing year-on-year increases of 5.9% and 6.9% [4]. - Among bus categories, light buses saw slight growth year-on-year, while medium and large buses experienced varying degrees of decline [4]. Group 3: Truck Production and Sales - In April 2025, truck production and sales were 317,000 units and 323,000 units, with month-on-month declines of 16.8% and 18.2%, but year-on-year increases of 1.5% and 3.2% [7]. - From January to April 2025, truck production and sales reached 1.24 million units each, with year-on-year growth of 3.9% and 1.4% [6]. - In the truck segment, light trucks showed growth year-on-year, while medium and micro trucks faced declines in production and sales [6].