South Korea CV market rebounds in Q4 despite weak GDP and tips year’s registration positive
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By Will Pulson - 5th April 2023
South Korea - The South Korean market for commercial vehicles over 2 tons gvw continued to rebound in the fourth quarter of 2022, by 21% to 62,497 units after declining by 11% to 51,640 in the same period of the previous year, based on data from various industry sources.
This follows growth of 18% in the third quarter after a weak first half 2022 - when sales and production were held back by shortages of semiconductors. GDP growth slowed to 1.4% year-on-year in the fourth quarter of last year after growing by 3.1% in the third quarter.
