The South Korean market for commercial vehicles over 2 tons gvw declined by 21% to 46,241 units in the fourth quarter of 2024 from 58,500 units a year earlier.

Subsidies are now based on performance and range.

The commercial vehicle market over 2 tons gvw continued to decline sharply in the third quarter of 2024, by almost 19% to 43,267 units from an already weak 53,150 sales a year earlier.

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.

The market for commercial vehicles over 2 tons gvw in South Korea plunged by almost 27% year-on-year to 47,993 units in the first quarter of 2024 compared with strong year-earlier volumes.

The South Korean market for commercial vehicles over 2 tons gvw declined by more than 5% to 59,190 units in the fourth quarter of 2023 from 62,497 units a year earlier.

South Korea is one of the more progressive countries to try and adopt AI and autonomous driving technology om public transport.