What Are the Favorable Factors Supporting the Continued Growth of China Bus Industry in 2025
2025-02-08 Source：www.chinabuses.org
Summarize：Factors supporting the continued growth of the bus industry in 2025 include several favorable elements. According to data from the China Association of Automobile Manufacturers (CAAM), in the just-concluded year of 2024, China's bus sales totaled 521,500 units (including large, medium, and light buses), representing a year-on-year increase of 6.86% and leading the growth in China's commercial vehicle industry.
Factors supporting the continued growth of the bus industry in 2025 include several favorable elements. According to data from the China Association of Automobile Manufacturers (CAAM), in the just-concluded year of 2024, China's bus sales totaled 521,500 units (including large, medium, and light buses), representing a year-on-year increase of 6.86% and leading the growth in China's commercial vehicle industry.
In 2024, sales of new energy public buses in China reached 46,000 units, up nearly 50% year on year.
Sales of tourism and highway buses over 5 meters in length in China totaled 74,943 units in 2024, up 30.6% year on year, with growth recorded in 10 out of the 12 months of the year.
According to terminal registration data, sales of rural buses in China reached 138,000 units in 2024, up 40% year on year.
According to customs data provided by the China Automobile Dealers Association, China's bus exports totaled 81,820 units in 2024, up 16% year on year.
China's bus market is expected to maintain continued growth in 2025, supported by the following favorable factors:
Firstly, proactive macro policies will lay the foundation for the growth of the bus market in 2025.
China's economic fundamentals are expected to stabilize and rebound, with fixed asset investment maintaining steady growth. The living and consumption levels of urban and rural residents will continue to increase, leading to more frequent travel, which will solidify the foundation for the sustained growth of China's bus market in 2025.
Secondly, upgraded subsidy policies will continue to drive a significant increase in domestic demand for new energy public buses.
Undoubtedly, national policies will be the most significant driver of the rapid growth of new energy public buses in China in 2025, as evidenced in 2024.
At the beginning of 2025, the government has clarified the subsidy policy for replacing old new energy public buses with new ones, with significantly increased subsidy levels and an extended subsidy period of at least 11 months compared to last year's maximum of 5 months. This undoubtedly injects strong policy momentum into the continued rapid growth of China's new energy public bus market throughout 2025.
Thirdly, the continued recovery of the tourism market will boost demand for tourism and highway buses.
According to industry forecasts, China's tourism market is expected to continue growing in 2025. The sustained growth of the tourism market will inevitably increase demand for tourism buses. Therefore, tourism and highway buses will become an important driver of growth in China's bus market in 2025.
Fourthly, the government continues to support the integrated development of rural passenger and freight transport and postal services, and the rural bus market is expected to maintain growth.
At the end of 2024, the Ministry of Transport held a special press conference to discuss the development of China's rural passenger transport market in 2025, emphasizing the need to innovate new models for the integrated development of rural passenger and freight transport and postal services, further promoting the development of China's rural passenger transport market in 2025.
Fifthly, bus export demand is expected to continue growing.
China's bus market is expected to maintain stable growth in 2025, providing support for the continued growth of overall bus sales in China.
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