Sales of Large Trucks Increased Due to COVID-19... Hyundai Motor Up 31%

[Asia Economy Reporter Changhwan Lee] Sales of medium and large trucks have significantly increased this year.

According to the industry on the 23rd, Hyundai Motor's sales of medium and large trucks from January to April this year reached 8,730 units, a 31.2% increase compared to the same period last year.

By model, the large Axient sold 2,068 units, and the semi-large Pavis sold 870 units. The medium-sized Megatruck and Mighty sold 2,048 and 3,744 units respectively.

The sales volume of Pavis, launched at the end of 2019, this year was 2.5 times that of the same period last year (353 units). Most of the demand for Pavis, which can carry 5.5 to 13.5 tons, is for medium- to long-distance logistics transportation such as parcel delivery.

Other medium and large trucks such as Mighty (33.6%), Axient (29.1%), and Megatruck (7.9%) also sold well.

Except for small trucks like Porter, Hyundai Motor's sales of medium and large trucks had been sluggish until 2019 due to economic downturn.

However, as the non-face-to-face era accelerated due to COVID-19, logistics volume increased, and the industry sees that sales of medium and large trucks have steadily increased from last year through this year.

Increased subsidies for replacing old trucks also appear to have acted as a positive factor.

The government raised the upper limit of early scrapping subsidies for road-use type 3 construction machinery from 30 million KRW to 40 million KRW in the partial amendment of the "Regulations on Low Emission Measures and Subsidy Payments for Specific Diesel Vehicles, etc." announced in April last year.

This content was produced with the assistance of AI translation services.