Volvo Trucks Korea's heavy-duty truck, the Volvo FH16 [Volvo Trucks Korea]
Volvo Trucks Korea's heavy-duty truck, the Volvo FH16 [Volvo Trucks Korea]

New registrations of imported commercial vehicles in South Korea fell below 2,000 units in the first half of this year. Registrations rose in June from both the previous month and a year earlier, but the cumulative first-half total still trailed last year's pace.

The Korea Automobile Importers and Distributors Association (KAIDA) said Wednesday that 1,968 imported commercial vehicles were newly registered from January through June, down 8.7% from 2,156 units in the same period last year.

By brand, Volvo Trucks led the market with 783 units registered in the first half, though that was 6.3% fewer than the 836 units recorded a year earlier. MAN posted 411 units, up 13.9% year on year, while Scania registered 388 units, a 10.2% decline.

Mercedes-Benz recorded 234 units in the first half, down 27.8% from the same period last year. Mercedes-Benz Vans, however, rose 32.8% to 81 units. Iveco saw the steepest drop among brands, falling 50.0% year on year to 71 units.

June alone showed a recovery. New registrations of imported commercial vehicles came to 328 units last month, up 12.7% from 291 units in May and the same percentage gain from the 291 units registered in June last year.

Volvo Trucks led June registrations with 126 units, capturing a 38.4% market share. Scania followed with 71 units, then MAN and Mercedes-Benz with 52 units each, Mercedes-Benz Vans with 14 units and Iveco with 13 units.

By vehicle type, tractors accounted for the largest share at 134 units. Special-purpose vehicles came in at 128 units, dump trucks at 61 units and cargo trucks at 5 units. The special-purpose category includes cargo and van variants.

The commercial vehicle market is heavily influenced by construction activity, logistics demand and investment sentiment in the transport sector. A slowdown in domestic consumption, rising freight costs and the lingering effects of high interest rates have kept replacement demand from recovering quickly. The June rebound has drawn attention to whether a pickup in logistics and construction demand in the second half will shift the market's trajectory.


kwater@heraldcorp.com