Electric trucks hit 50% of China’s heavy truck sales, diesel demand falls
China's heavy truck market saw electric vehicles capture over half of sales in September 2024, representing a 37% year-over-year increase. The shift is rapidly displacing diesel-powered vehicles, with battery and natural gas trucks driving most transportation demand. The trend is already visible in falling oil consumption, signaling a structural shift in commercial vehicle markets.
Key points
- Electric trucks hit 50.3% of heavy truck sales in China during September
- Electric big-rig sales increased 37% year-over-year to 33,100 units
- Diesel demand expected to drop 230,000 barrels per day due to EV adoption
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