It has been several years since the discontinuation of the Damas and Labo by GM Korea, but competition is fierce in the domestic light commercial vehicle market to capture dominance due to the lack of clear alternatives. While there is still demand for used Damas and Labo, new domestic and foreign companies are targeting this market.
Daechang Motors, a domestic electric vehicle specialized small enterprise (currently Route 17), has introduced the small electric cargo truck "Danigo" following its small electric van e-TOVI. Danigo will be released in various models including cargo, lift, top car, refrigerated, and wing body (a vehicle with doors that open like wings on both sides of the cargo area).
The Chinese electric vehicle company Shansi Victory Group launched the 0.7-ton (t) small electric cargo truck "E-CV1" in the domestic market last month. The E-CV1 was developed specifically for the Korean market, and it is reported that Shansi Victory Group is also pushing to establish a commercial vehicle factory in Korea. Considering electric vehicle subsidies and benefits for small businesses, the price of the e-TOVI and E-CV1 is expected to be in the mid-10 million won range.
The rush of domestic and foreign companies to launch small trucks and vans is due to steady demand for light commercial vehicles. Since there have been no flagship models after Damas and Labo, these vehicles are still traded at high prices in the used car market.
Currently, 147 units of Damas and 131 units of Labo are listed for transaction on Encar, the largest used car transaction platform in the country. Most of these vehicles, which have already traveled tens of thousands of kilometers, are being sold for between 6 million and 8 million won. Some recently manufactured vehicles or those with low mileage are traded at prices close to or exceeding 10 million won.
Hyundai Motor and Kia have been targeting the light commercial vehicle demand with a strategy to change the existing compact car model structure. The Ray van and Casper van are representative models. The Ray van, being the first one-person vehicle in the country, has removed the passenger seat to provide additional storage space underneath, significantly increasing loading capacity. The Casper van is a modified model without rear seats, converted into a commercial vehicle.
Although various new vehicles have been launched in the domestic light commercial vehicle market, many point out that they fall short of the Damas and Labo in terms of price, performance, and size. Unlike the Damas and Labo, which were liquefied petroleum gas (LPG) exclusive vehicles, most of the recently released light commercial vehicles in a similar price range are electric models, with short driving distances and charging times seen as drawbacks.
The Ray and Casper vans are praised for their excellent driving performance and stability thanks to their gasoline engines, but they are several million won more expensive than Damas and Labo, and have high maintenance costs. LPG models of 1-ton trucks such as Starry, Porter, and Bongo have also been mentioned as alternatives, though there are significant differences in pricing and vehicle class.