The first registrations of new goods vehicles in South Korea have exhibited fluctuating trends from 2013 to 2023, with volumes peaking in 2018 at 245.13 thousand registrations. However, there has been a gradual decline post-2018, with the forecast for 2024 at 214.81 thousand, indicating a continued downward trend. The year-on-year variation in 2023 was -1.2%, highlighting a consistent drop in the rate of new registrations. The five-year CAGR from 2019 to 2023 stood at -2.38%, reflecting an average annual decrease over this period. The forecast for the next five years shows a CAGR of -0.92%, suggesting a smaller yet persistent decline looking forward.

Future trends to watch for include:

Potential market shifts due to advancements in vehicle technology and increased adoption of electric and autonomous goods vehicles.
Economic factors that could influence overall industrial demand and logistics efficiency.
Government regulations and incentives impacting vehicle registrations and environmental compliance.