SEOUL, Aug. 26 (Korea Bizwire) — Sales of imported commercial vehicles in South Korea fell 25 percent last month from a year earlier amid the coronavirus pandemic, an industry association said Wednesday.
The number of newly registered imported commercial vehicles fell to 289 units in July from 383 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 an economic slowdown. This year, the new coronavirus outbreak is also weighing on consumer sentiment,” 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 July, overall sales fell 19 percent to 2,390 from 2,952 in the year-ago period, KAIDA said.