South Korean media: Chinese electric vehicles enter the Southeast Asian market, and Japanese car shares have significantly declined!

On January 2, South Korean media "Today Asia" published an article stating that the influence of Japanese brands, which have long dominated the Southeast Asian automotive market, is rapidly weakening. Analysts point out that Chinese electric vehicle companies are seizing the market with active investment and pricing strategies, leading to a significant decline in Japanese brand market share.

According to Japan's "Yomiuri Shimbun", from January to October last year, the combined market share of nine Japanese car manufacturers in Thailand was 69.8%, a decrease of 6.6 percentage points compared to the same period in 2024. The market share of Japanese cars in Thailand once reached 80% to 90%, but it dropped to 77.8% in 2023 and fell sharply again last year.

The Indonesian market also showed similar trends, with the market share of Japanese cars falling below 90% for the first time in 2024, and further declining to 82.9% from January to October last year.

Local market observers attribute this shift to the rapid growth of Chinese electric vehicle brands such as BYD. Chinese companies are rapidly expanding their market share by establishing local assembly plants, utilizing government subsidies and price advantages.

It is worth noting that Thailand has always been the Southeast Asian export hub for Japanese manufacturers, but the production structure is changing. According to the "Yomiuri Shimbun", Honda plans to merge its two factories in Thailand into one starting this year, while Mitsubishi Motors plans to close one of its three factories starting in 2027.

Experts predict that supply chains heavily dependent on Japanese cars may also be affected. With about 2,700 Japanese auto parts manufacturers operating in Southeast Asia, a widespread reduction in production is expected to inevitably trigger a chain reaction.

Original article: toutiao.com/article/1853171743009801/

Statement: This article represents the views of the author alone.