Iveco achieved market leadership in Argentina with a strong increase in registrations of 1,313 units, a 42% rise on 920 registered in the first quarter of 2022.

Introduction of Proconve P8 (Euro 6) emissions legislation on January 1, 2023, hits orders for trucks and buses.

In the first quarter of this year, the Colombian CV market recorded sales of 9,421 units, corresponding to an increase of 9.7% (931 units) above the 8,590 vehicles sold in the same period of 2022.

Vietnam's CV market dips but relatively stable.

South Korean CV market remains dominated by small trucks 5 tons and below.

Malaysian market for CVs (up 40%) heavily dependent on strong pickup sales (up 42%).

Japan's CV market sector loses 55,000 units in a year.

The Thai CV market in 2022 despite a weak last quarter finished 2022 up 13%.

Medium sized truck market remains largest segment overall in Indonesia.

The CV market in the Philippines is dominated by the pick up sector.

The seven major markets of East Asia (excluding China) has grown by 125,000 commercial vehicles in the last two years.

Economic growth in China slowed sharply last year to 3%, missing the government’s 5.5% target as tough lockdowns were implemented in major cities across the country for extended periods to control the Covid pandemic.