SEOUL, July 24 (Korea Bizwire) — Sales of imported commercial vehicles in South Korea fell 12 percent last month from a year earlier on an economic slowdown, an industry association said Friday.
The number of newly registered imported commercial vehicles fell to 324 units in June from 366 a year earlier, according to the Korea Automobile Importers and Distributors Association (KAIDA).
“Demand for commercial vehicles has been on the decline since last year amid a slowing economy. This year, the new coronavirus outbreak is also weighing on vehicle sales,” a KAIDA official said.
Imported commercial vehicles currently account for a large share of the domestic commercial vehicle market.
Five major imported commercial vehicle brands — MAN, Mercedes-Benz, Volvo Trucks, Scania and Iveco — sell trucks, buses and vans in South Korea.
From January to June, overall sales fell 18 percent to 2,101 from 2,569 in the year-ago period, KAIDA said.