On March 23, the China Association of Automobile Manufacturers (CAAM) released an analysis revealing that the production and sales figures in the commercial vehicle market witnessed a downturn in February 2026. Notably, both the production and sales of trucks and buses plummeted, registering double-digit decreases on both a month-on-month and year-on-year basis. During that month, commercial vehicle production and sales stood at 273,000 and 269,000 units, respectively, marking a 29.7% and 24.9% drop month-on-month, and a 14.1% and 14% decline year-on-year.

However, when considering the cumulative data from January to February 2026, commercial vehicle production and sales reached 660,000 and 627,000 units, respectively, showing a 7% and 3.9% increase year-on-year. Focusing on the bus segment, in February 2026, bus production and sales reached 28,000 and 29,000 units, respectively, with a 26% and 17.5% decrease month-on-month, and a 23.5% and 14.9% decline year-on-year. Within the bus subcategories, large bus production decreased while sales increased compared to the previous month. Meanwhile, both production and sales of medium and light buses experienced significant declines. Compared to the same period last year, large bus production and sales increased, medium bus production saw a slight decrease but sales surged, and light bus production and sales both witnessed double-digit declines.