South Korea CV sector 3.3% higher at 250,000 units

摘要

South Korea - The South Korean domestic commercial vehicle market (> 2 tons gvw) declined by 6.6% to 62,975 units in the fourth quarter of 2015, from 67,465 units a year earlier, based on data supplied by the Korean Automotive Manufacturers Association (KAMA). Economic growth picked up speed in the fourth quarter, however, to 3% year-on-year, from 2.7% in the previous quarter, reflecting a 3.2% rise private consumption growth driven by government stimulus measures including a temporary cut in the consumption tax rate and a historically-low benchmark interest rate of 1.5%. Government expenditure also grew strongly in Q4 by 3.9% year-on-year.