Korean Pickup Market Rebounds After 6 Years... Surge of New Models Including Musso Gasoline and Hummer EV

Pickup Market Rebounds from 42,000 to 13,000 to 25,000 Units
New Model Effect: Kia Tasman and KGM Musso EV Lead the Way
Versatile Pickups for Daily Use and Leisure See Growing Consumer Demand
This Year: New Musso Internal Combustion Model a

The domestic pickup truck market has entered a clear recovery phase for the first time in six years. After experiencing a downturn due to weakened demand and a lack of new models following the COVID-19 pandemic, the pickup market has succeeded in rebounding since last year, thanks to the effect of new vehicle launches.

According to Kaizyu Data Research Institute on January 8, a total of 24,998 new pickup trucks were registered in Korea last year. This figure represents a 79% increase from the previous year, marking the highest growth rate among all vehicle types. The domestic pickup market peaked in 2019 with sales of about 42,000 units, but then contracted to around 13,000 units by 2024. However, since last year, sales have rapidly recovered, once again surpassing the 20,000-unit mark.

The primary driver behind the market rebound has been the introduction of new models. The most notable new vehicles leading the domestic pickup market last year were the Kia mid-size pickup Tasman and KG Mobility's Musso electric pickup model. The Tasman quickly established itself as a core model in the market, selling 8,352 units in its debut year alone. In addition, the Musso electric pickup, launched in March last year, sold 7,147 units, creating new demand for electric pickups in a market previously dominated by internal combustion engines. These two new models served as a catalyst, effectively revitalizing the previously stagnant pickup market.

Industry experts view this rebound not as a temporary recovery, but as a sign of structural change. In the past, pickup trucks were primarily seen as commercial "work vehicles," but recently, improvements in ride comfort and convenience features have transformed them into multipurpose vehicles that satisfy both daily driving and leisure needs. Analysts attribute the shift in consumer perception to the SUV-like driving feel and ample cargo space offered by these vehicles.

KG Mobility internal combustion pickup truck Musso. Photo by KG Mobility

This year, competition in the pickup market is expected to intensify even further. KG Mobility's pickup-exclusive brand "Musso," which introduced an electric pickup in March last year, will launch a new internal combustion engine-based model this year. The lineup will expand to include not only diesel but also gasoline models, and a variety of options will be available, allowing customers to select deck length and suspension strength, among other features.

Additionally, GM Korea is preparing to launch the large electric pickup "Hummer EV" and the mid-size pickup "Canyon" under the GMC brand in Korea. With the simultaneous introduction of internal combustion and electrified models, the pickup market is evolving into an independent vehicle segment with a diverse range of choices, unlike in the past.

Changes in the consumer environment are also supporting the expansion of the pickup market. As outdoor activities such as camping, car camping, and fishing become more popular, demand has increased for vehicles with high cargo capacity. Interest has also grown among self-employed individuals and small business owners in vehicles that can serve both work and personal purposes. The fact that pickup trucks are classified as cargo vehicles, resulting in relatively lower tax burdens, has also influenced consumer choices.

In the mid- to long-term, eco-friendly pickups are expected to be a key variable in market expansion. The industry anticipates that if eco-friendly pickup lineups such as an electric version of the Tasman and a hybrid model of the Musso are added in the future, they could absorb not only leisure vehicle demand but also part of the existing SUV market.

An industry official stated, "For some time, pickup trucks were considered a niche market in Korea, but changes in domestic consumer lifestyles and the diversification of powertrains are propelling them to become a new mainstream vehicle segment. The next two to three years will be a critical turning point in determining the growth of the domestic pickup market."

GMC Hummer EV. Provided by GM Korea