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Xu Changming, a senior economist at the State Information Center, highlighted at the 2025 China Automobile Forum that truck sales have exhibited a gradual upward trend from a low base starting in the second quarter. This positive momentum is fundamentally underpinned by macroeconomic factors, with the renewal of aging trucks further fueling the recovery. Despite the stabilization of sales figures, industry profitability remains sluggish. Demand growth for commercial vehicles has fallen short of manufacturers' projections, fostering intense market competition. Moreover, numerous enterprises have proactively reduced prices to foster the development of new energy vehicles. The commercial vehicle market is mirroring the competitive landscape of the passenger vehicle sector, with competition intensifying.
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