SEOUL, May 25 (Korea Bizwire) — Sales of medium, large-sized trucks are on the rise as ‘contactless consumption’ has become the new norm following the coronavirus outbreak.
Industry sources said that sales of Hyundai Motor Co.’s medium and large-sized trucks between January and April reached 8,730 units, up by 31.2 percent from last year.
Truck sales have underperformed recently due to a downturn in the construction industry, dropping from 23,773 vehicles in 2016 to 18,793 in 2019.
Last year, however, the spread of contactless consumption led to a sales rebound, with 20,232 trucks sold, 7.7 percent more than the previous year.
This year, monthly truck sales rose to an average of 2,183, surpassing the 2,000-unit hurdle for the first time since 2014 (2,091 units).
Government subsidies for old truck replacement have also contributed to the sales boost.
Image Credit: Hyundai Motor / photonews@koreabizwire.com
