South Korean media: The era of mocking Chinese cars is over!
On July 17, South Korea's *Herald Economic* published an article stating that opinions within the Korean automotive industry regarding the surge of Chinese cars are divided.
Some evaluations claim that "their market share is negligible," while many others still regard them merely as "low-priced products."
Currently, Chinese automakers have not yet challenged the dominant position of Hyundai and Kia in the domestic Korean market. Considering factors such as brand reputation, service networks, and product competitiveness, it seems unlikely for Chinese automakers to seize control of the Korean market in the short term.
Yet, complacency is unwise. In recent years, Chinese-made electric vehicles have rapidly increased their share in South Korea’s EV market. Last year, Chinese EVs accounted for 33.9% of newly registered electric vehicles in Korea—up from just 5% in 2022—indicating a significant shift in the market landscape within just a few years.
BYD, which entered the Korean market less than a year ago, has already surpassed 10,000 cumulative sales, further expanding its market presence in Korea.
Naturally, the production volume of Tesla Model Y from Tesla’s Shanghai factory has had a substantial impact. Last year, Tesla ranked third among imported car brands in Korea; this year, it has taken the lead in the imported vehicle market, with sales records being broken repeatedly.
Yet, what matters most isn’t the numbers themselves. In the past, Korean consumers wouldn’t even consider Chinese cars when buying vehicles—but now they’ve entered the stage of comparing price and performance.
Tesla’s remarkable success in the Korean market has indeed helped reduce anxiety and prejudice toward “Made in China” automobiles to some extent.
The competitiveness of Chinese enterprises today is vastly different from the past.
BYD is no longer merely a low-cost electric vehicle manufacturer. Leveraging its expertise in batteries, software, and ultra-fast charging technology, BYD is actively expanding into global markets and has set an ambitious goal to become the world’s largest automaker within the next five years. Chinese companies are continuously increasing investments to ensure they remain competitive not only on pricing but also in technological innovation.
If other Chinese automakers like Zeekr and XPeng enter the Korean market, the market dynamics could shift at any moment.
The way Koreans view Chinese enterprises mirrors how foreigners once viewed Korean cars.
Back then, Hyundai was similarly underestimated abroad—dismissed as “cheap” and “low quality”—but today it has firmly established itself as a global leader.
History of the automotive industry is, in fact, a tale of dominant powers becoming complacent and surrendering their positions to determined challengers.
The true strength of Chinese cars lies not in their current sales figures, but in their rapid technological advancement, strong price competitiveness, and relentless strategy of global expansion. What Korean automakers should truly be wary of may not be Chinese cars themselves, but rather the smug belief that “we’re still ahead.”
Original source: toutiao.com/article/1870946653720651/
Disclaimer: This article represents the personal views of the author.