Grey Liu bought his third vehicle four months ago - a Foton pickup truck, lured ...
BEIJING - Grey Liu bought his third vehicle four months ago - a Foton pickup truck, lured by its $7,000 price tag and its ability to transport his sports motorcycle to the grasslands of northern China where he likes to ride.
Pickup demand - both work-related and the newer interest from mainstream consumers - has climbed on the back of an easing in government restrictions and last year China became the world’s second-biggest pickup truck market. The new truck will be priced much higher than current models and will be one of five all-new pickups in the next three years, sources familiar with Great Wall’s plan said, declining to be identified as they were not authorized to speak on the matter.Although overall demand in the world’s biggest auto market fell last year for the first time since the 1990s, pickup truck sales rose 10 percent to around 452,000 vehicles for a fourth straight year of growth, according to consultancy LMC Automotive.
Depending on how extensive that easing is, annual pickup demand in China could double or triple even if limited parking options hobble demand in the country’s biggest cities like Shanghai, executives and analysts say.
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