Amid the automotive industry’s focus on electric vehicle development and production to achieve carbon neutrality and address global warming, South Korean automakers are gearing up for new competition with their latest pickup trucks.
Pickup trucks are popular in regions with unpaved roads and a need for multipurpose freight vehicles beyond high transportation. North America and Australia are among the key consumer markets.
In Korea, interest in pickup trucks has increased as the population enjoys camping, and car camping activities have grown during the COVID-19 pandemic. According to the data research institute of CarIsYou, the number of registered pickup trucks steadily increased to 23,574 in 2017, 41,467 in 2018, and 42,825 in 2019. However, it has been on a downward trend, with 38,929 in 2020, 30,902 in 2021, 29,685 in 2022, and 18,199 in 2023, a 38.7% decrease compared to the previous year.
This decline is attributed to factors such as the aging of models and difficulties in urban driving. The increase in alternative vehicles for leisure activities also played a role. The trend has been further fueled by a decreased preference for diesel vehicles as more consumers seek high-efficiency vehicles.
However, the industry predicts that the popularity of pickup trucks will bounce back. There’s a plan to capture customers’ hearts with new pickup trucks as the culture of enjoying leisure activities spreads.
Kia, which hasn’t produced pickup trucks since discontinuing the Brisa in 1981, is pouring its efforts into developing a pickup truck under the project name “TK1.” TK1, a pickup truck utilizing the “Mohave” frame, is expected to be launched by the end of this year.
The car name “Tasman” is considered for TK1, and an electric car model is expected to be added after the model with an internal combustion engine is released. Kia’s President Song Ho Sung stated at the “EV Day” event last October that “we will showcase a variety of electric car models, including pickup trucks, compact cars, and upper middle cars,” indicating high possibilities.
KG Mobility (KGM), a South Korean powerhouse, is also planning to launch an electric pickup truck, O100 (project name), based on Tores EVX this year. KGM unveiled the concept car of O100 at the Seoul Mobility Show event last March. KGM, which has consistently produced pickup trucks such as Musso Sports, Actyon Sports, and Korando Sports since it was Ssangyong Motor, plans to maintain its superiority in the market by being the first domestic automaker to release an electrified pickup truck model.
GMC, GM’s premium pickup and SUV brand, has begun selling the upgraded 2024 Sierra model since the 8th. In the second half of the year, it is considering launching a fully revamped Chevrolet Colorado.
An industry insider commented, “Considering the road conditions in Korea, purchasing a pickup truck may not be attractive, but as the population enjoying leisure steadily increases, interest in pickup trucks is also on the rise,” and added, “Despite their ample loading capacity and strength in off-roads, they haven’t received much attention as new car launches have not been as active compared to other models. However, it is now expected to become a new competitive market.”
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