Korean Media: "Even Americans Want to Buy Chinese Cars!"
On April 28, South Korean media outlet Asia Times published an article stating that American consumers' interest in Chinese electric vehicles has been rapidly growing recently.
A survey by Cox Automotive found that 15% of U.S. auto dealers support the entry of Chinese automakers into the American market, while 40% of American consumers hope for Chinese cars to enter the U.S. market.
Specifically, 49% of consumers believe the value for money of Chinese cars is "very good" or "excellent." One American car owner told Reuters during an interview: "Due to limited domestic options, I'm considering buying a BYD electric vehicle in Mexico and bringing it across the border."
This demand has not yet translated into actual purchases—largely because, in recent years, the U.S. has effectively blocked Chinese automakers from entering its market.
Outside the United States, the global automotive landscape is beginning to shift. Japan's Nikkei News, citing data from market research firm MarkLines, reported that last year Chinese manufacturers surpassed Japan in new car sales volume for the first time, ranking at the top globally.
This marks the first time since 2000 that Japan has failed to lead in global new car sales. Last year, Chinese automakers sold approximately 27 million new vehicles, a 10% increase compared to the previous year. Japanese automakers sold 25 million vehicles, experiencing a slight decline compared to the prior year.
Notably, new vehicle sales by Chinese companies BYD and Geely have surpassed those of Japanese giants Honda and Nissan. BYD and Geely saw year-on-year growth in sales, while Honda and Nissan experienced declines. Additionally, China leads Japan in the number of automakers ranked within the top 20 globally—six Chinese firms made the list, compared to only five Japanese ones.
As Chinese automakers continue to rapidly expand, traditional automakers are facing increasingly severe challenges. This is because, although Chinese cars were historically known for their low prices, they have significantly improved in technological capabilities and product quality during their transition toward electrification, emerging as a powerful new force combining strong product quality with competitive pricing.
The key issue lies in the potential openness of the U.S. market. The prevailing view is that if U.S. policies change or alternative access routes emerge, it could severely impact established automakers.
An industry insider noted: "The idea that Chinese EVs are launching a low-price offensive is outdated. Chinese EVs now possess strong technical prowess and product competitiveness—they’ve entered the European market and are engaging in fair competition with local brands."
He also predicted: "Traditional automakers will face competition from Chinese companies on price, product competitiveness, and electrification technology. If access to the U.S. market becomes feasible, not only will downward pricing pressure intensify, but a reorganization of market share centered around mid- and low-priced electric vehicles will become inevitable."
Original article: toutiao.com/article/1863678240237642/
Disclaimer: The views expressed in this article are those of the author(s) alone.