Domestic pickup truck sales have more than doubled compared to last year, thanks to the consecutive release of new models.
On the 20th, according to Kaizu You Data Research Institute, the number of newly registered domestic pickup trucks last month was 2,336, an increase of 102.6% compared to the same month last year. The monthly registration of pickup trucks exceeding 2,000 is the first time since October 2022 (2,205 units).
This is attributed to the effect of new vehicle releases, including Kia's first pickup truck "Tasman" and KG Mobility's (KGM) first electric pickup truck "Mu-Xo EV." Last month, the number of Tasman registrations increased by 792.7% to 857 units. During the same period, the Mu-Xo EV sold 504 units, showing an increase of 121.1%.
There is attention on whether the domestic pickup truck market can continue its growth trend, thanks to the two new models. Pickup trucks have not been a popular vehicle type in the domestic market due to engine inefficiency, narrow lanes, and difficulties in parking.
The number of registered domestic pickup trucks increased from 23,574 units in 2017, to 41,467 units in 2018, and 42,825 units in 2019, before decreasing to 38,929 units in 2020, 30,902 units in 2021, 29,685 units in 2022, 18,199 units in 2023, and 13,954 units in 2024.
Moreover, until now, the only domestic pickup truck models were KGM's Rexton Sports, Korando Sports, GM Korea's Colorado, and Sierra. As Rexton Sports, which accounted for about 90% of total sales, saw a drop in sales, the market also contracted.
However, in recent years, there has been a growing trend of outdoor enthusiasts enjoying activities like camping and "car camping" in Korea, similar to overseas. According to auto industry analysis, consumers are increasingly demanding new pickup trucks with improved features such as spacious cargo space and rugged driving performance.