The market for commercial vehicles over 2 tons gvw in South Korea declined sharply in the third quarter of 2023, by almost 16% to 53,168.

The market for commercial vehicles over 2 tons gvw continued to grow strongly in the third quarter of 2023, by 18% year-on-year to 32,128.

The Malaysian commercial vehicle market over 2 tons gvw continued to grow in the third quarter of 2023, albeit just slightly to 19,900 units after an 85% rebound to 19,329 units in the same period of last year.

The Indonesian market for commercial vehicles over 2 tons gvw reversed sharply in the third quarter of 2023 after two years of strong growth.

Japan’s market for commercial vehicles over 2 tons gvw continued to recover in the third quarter of 2023, by 15% to 95,079 units.

Sales of commercial vehicles over 2 tons gvw in East Asia’s seven main markets, excluding China, declined by over 8% to 326,720 units in the third quarter of 2023.

The market grew by a whopping 130.6% compared to the same period of the year prior, according to statistics published by the Society of Motor Manufacturers and Traders (SMMT).

11,531 HGVs were registered between July and September, representing a 14.9% improvement compared to the same period of the year prior, according to statistics published by the Society of Motor Manufacturers and Traders (SMMT).

Domestic sales of medium and large buses and coaches (7.5t gvw and above) increased by 43.8% in first half (April to September, 1H) of the financial year 2023-24 to register 22,250 units.

Sales of light duty buses (7.5t & below) increased by 24.3% to register 27,580 units in first half of FY 2023-24 from 22,185 units in the first half of FY 2022-23.

Sales of LCV goods carrier vehicles (trucks) gvw ≤ 7.5t slid by 4.6% to 265,825 units in first half of FY 2023-24 from 278,679 units in same period of FY 2022-23.

High demand for tractor units boosted sales by 47.2% during the first half of FY 2023-24 to register 32,018 units compared with 21,756 units in the same period of the previous year (FY 2022-23).