South Korea - Bus and coach sales continue sharp downward trajectory
By Jim Gibbins - 1st March 2021
South Korea - The South Korean market for medium and large buses and coaches is substantial, reflecting good public transport services and the extensive use of buses and coaches by private companies. Domestic sales, however, plunged by over 43% to 1,687 in the fourth quarter of 2020 from 2,984 units a year earlier, with demand for mass transportation falling sharply due to the pandemic.
Full-year sales were down by over 31% at 8,192 units compared with 11,915 units in 2019, with all manufacturers posting steep declines. Daewoo Bus Corporation reported the sharpest drop, of almost 64% to 697 units, followed by Kia with sales of the GrandBird falling by almost 51% to 658 units, while Hyundai’s sales fell by 21% to 6,837 units.
