Truck sales in Russia and China are expected to make a moderate recovery in 2016, after suffering steep declines last year, according to MAN Truck & Bus.
The market for trucks in the 6-tonne and above category plunged significantly in the two countries in 2015, with a 44% decline in Russia and a 32% decrease in China.
The Russian market is however expected to make a modest recovery in 2016, with about 7% growth expected, said Johan Björnör, senior vice president for truck sales at MAN Truck & Bus AG.
“Our projection is that there will be a small recovery by the end of this year versus last year, but still on a very low level,” Björnör noted at a press conference held during the Bauma exhibition in Germany. However, it is challenging to make accurate predictions about the Russian market currently, he admitted.
China too will bounce back, but will not see the double-digit growth recorded in previous years, he added. The Chinese market is expected to grow by 8% this year.
Meanwhile, the outlook for Latin America, which saw a 49% market decline last year compared to 2014, remains gloomy. Economic and geopolitical problems in Brazil have negatively affected sales in the rest of the continent, and the market is expected to shrink further in 2016.
“We see no recovery in the Brazilian market this year. On the contrary, it will go down further,” Björnör said, noting that a decline of 16% is expected in Brazil in the months ahead.