The production of buses and coaches in China has experienced significant fluctuations over the last decade. Starting from 2013, production values rose steadily but then saw ups and downs until 2017. Post-2017, the trend pivoted drastically downward with significant drops, especially from 2018 onwards. By 2023, production stood at 87.74 thousand units, marking a decline from previous years. Year-on-year variations over the last two years were -5.93% in 2022 and -1.43% in 2023. The CAGR over the past five years was -10.54%, reflecting a persistently negative growth trend.
Looking ahead, the forecasted data from 2024 to 2028 show a continuous decline in production, with a forecasted five-year CAGR of -9.21% and an overall expected reduction in production volume by 38.32% by 2028. It is essential to monitor potential shifts in market demand, technological advancements, and government policies that could impact production trends in the future. Additionally, trends in electric and autonomous vehicles could play a pivotal role in shaping the industry’s trajectory.
