China’s mini truck segment remained the only area of growth in February 2026, as the broader truck market declined.

Overall truck sales fell 14% year-on-year during the month, reversing the growth seen in January. In contrast, mini trucks continued to expand, following a strong start to the year in which the segment surged 93% year-on-year in January.

Mini truck sales extend growth streak

According to data from the China Association of Automobile Manufacturers (CAAM), based on wholesale invoicing, China’s truck market — including chassis and tractor trucks — recorded sales of 240,400 units in February, down 26% month-on-month and 14% year-on-year.

Mini truck sales totaled 41,500 units, representing a 7% decline from January but a 15% increase compared with a year earlier.

Although growth slowed significantly from January’s high base, the segment has now posted eight consecutive months of year-on-year expansion since July 2025, making it the only truck segment among the four truck categories to record growth in February.

Highest February level in five years

Despite softer momentum, February marked the strongest performance for the mini truck segment in five years.

Excluding the disruption in 2020, February sales over the past five years have shown a pattern of a fluctuating but overall upward trend. The 41,500 units recorded in February 2026 represent the highest level for the month in this period, an increase of around 5,400 units year-on-year.

For the first two months of 2026, cumulative mini truck sales reached 85,300 units, also a five-year high, rising by approximately 26,200 units from the same period last year.

Market concentration remains high as Wuling dominates

Market participation remained limited, with eight manufacturers reporting sales in February, unchanged from the previous month.

Performance was mixed: three companies posted year-on-year growth, while five reported declines. Wuling and Foton recorded increases of 43% and 52%, respectively, while Shandong REACH also posted net growth. In contrast, all declining manufacturers reported double-digit drops, with the steepest fall reaching 78%.

The market remains highly concentrated. Wuling retained a dominant position with sales of 31,800 units, accounting for 76.6% of total market share.

Changan ranked second with 4,493 units and a 10.8% share. Other players remained significantly smaller, including Chery (5.1%), Kama (5.0%), Farizon (1.3%), Dongfeng (0.8%), Shandong REACH (0.3%) and Foton (0.2%).

Growth continues but momentum slows

From January to February, mini truck sales totaled 85,300 units, up 44% year-on-year. However, this marks a clear slowdown compared with January’s 93% growth rate.

Several manufacturers recorded gains during the period, including Wuling (+133%), Chery (+11%), Farizon (+3%) and Foton (+31%), while Shandong REACH achieved net growth. Meanwhile, three companies reported declines, all exceeding double digits, with the largest drop reaching 75%.

Wuling continued to dominate the market on a cumulative basis, holding a 76.6% share. Changan, Kama, Chery and Farizon followed with shares of 8.5%, 6.1%, 5.9% and 1.4%, respectively, while all other manufacturers accounted for less than 1% each.

Outlook remains uncertain

Following a weak performance in 2025, the mini truck segment has returned to growth in early 2026 and stands out as the only expanding segment within the truck market.

However, with overall market demand weakening, it remains unclear whether the mini truck segment can sustain its growth momentum in the coming months.