Core Viewpoint - The heavy truck industry in China experienced a slight decline in sales in February 2026, which was anticipated due to seasonal factors related to the Spring Festival [2][5]. Group 1: February Sales Performance - In February 2026, approximately 75,000 heavy trucks were sold, representing a nearly 30% decrease from January 2026 and an 8% decline compared to the same month last year [3]. - Cumulatively, the heavy truck industry sold over 180,000 units in January and February 2026, marking a year-on-year growth of about 17% [3]. Group 2: Seasonal Factors - The decline in sales was primarily attributed to seasonal fluctuations, particularly the Spring Festival, which fell later in February 2026 compared to the previous year [5][6]. - The Spring Festival holiday, which lasted from mid to late February, significantly impacted the purchasing behavior in the freight industry, leading to a seasonal downturn in truck sales [6][8]. Group 3: Market Segmentation - The terminal sales of new energy heavy trucks in February 2026 are expected to decline by over 40% month-on-month, although there is a slight year-on-year increase of around 10% [12]. - The natural gas heavy truck segment also faced a significant decline, with terminal sales expected to drop by over 50% year-on-year and more than 25% month-on-month [14]. Group 4: Outlook for March - The heavy truck market is expected to rebound in March 2026, with a forecasted slight year-on-year increase in wholesale sales as manufacturers prepare for the post-holiday sales surge [16]. - Strong overseas demand is anticipated to support steady growth in heavy truck exports during March and the entire first quarter [17]. - The introduction of new policies regarding the replacement of old trucks is expected to provide substantial support and stimulate sales in the second quarter of 2026 [17].