South Korea’s CV market decline continues in Q2
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By Will Pulson - 10th October 2024
South Korea – South Korea’s commercial vehicle market over 2 tons gvw continued to decline in the second quarter of 2024, by over 12% to 53,662 units from 61,318 units in the same period of last year, based on data supplied individually by the vehicle manufacturers.
Economic growth in the country slowed to 2.3% year-on-year in the second quarter from 3.3% in the first quarter, according to preliminary government estimates, reflecting weak spending on durable goods by the country’s heavily indebted consumers while investment in facilities and construction continued to decline.
