SEOUL, May 30 (Korea Bizwire) – South Korean imports of commercial vehicles jumped more than 19 percent on-year in the first four months of the year despite an overall tumble in inbound auto shipments, data showed Tuesday.
Imports of trucks, buses and special vehicles came to 3,284 units in the January-April period, up 19.1 percent from the same period a year earlier, according to the data by the Korea Automobile Manufacturers Association.
Inbound shipments of trucks spiked 24.8 percent on-year to 2,515 units during the period, and those of buses more than doubled to 184. Imports of special vehicles fell 11 percent to 585.
The country’s overall imports of foreign-made vehicles plunged 17.7 percent on-year to 85,456 units during the four-month period, with those of passenger cars plummeting 18.7 percent to 82,172.
The surge in imports of foreign trucks follows last year’s 75.8 percent spike. In recent years, foreign truck makers, including Navistar International of the United States, have made inroads into the South Korean market.
Currently, Volvo Trucks Korea tops the local market for imported trucks, with sales of other players like Scania, Benz and MAN growing fast.
MAN Trucks & Bus Korea has been unveiling a range of bus models in the local market since it entered South Korea last year.
Meanwhile, South Korean exports of trucks and buses stood at 37,713 units in the first four months of this year, almost unchanged from the level during the same period a year earlier.