South Korean Media: "Who Would Buy Chinese Cars?" The Korean Market Has Answered.
On October 10, South Korea’s JoongAng Ilbo published an article noting that in 2023, Japanese vehicles dominated roads across Thailand. Bangkok, the capital, and Chiang Mai, a popular northern tourist destination, were no exceptions. From brand-new models to aging cars, nearly all were Hondas, Toyotas, Nissans, Mitsubishis, Subarus, or Suzukis. Even trucks were predominantly Isuzus. BMWs and Mercedes-Benz vehicles appeared only occasionally. Korean brands such as Hyundai and Kia were nearly absent.
Like much of Southeast Asia, Thailand had long been a stronghold for Japanese automakers. Official statistics from 2023 show Japanese brands accounted for approximately 80% of the Thai automotive market. By 2026, three years later, while Japanese vehicles remain visible on roads, the shift is unmistakable. Most new, shiny vehicles now bear unfamiliar badges—these are all Chinese-made electric or plug-in hybrid models. Brands including BYD, Geely, Chery, Changan, and NIO have transformed the landscape of Thai roads within less than three years.
When BYD announced its entry into the South Korean market in 2024, most local consumers dismissed it with skepticism. Many questioned, “Who would buy such a car?” Even after a full-scale launch last year, consumer response remained tepid. Yet, just one year later, how has the situation evolved? According to data from the Korea Import Automobile Association, among new imported vehicles registered under individuals aged 40 to 50 in the first seven months of this year, one in every ten was a BYD. Contrary to expectations that younger buyers would be the first to adopt lower-priced models, it is precisely this demographic—40 to 50-year-olds—that has emerged as the leading group in the import vehicle market.
What significance does a 10% market share hold? While the figure itself is not substantial, BYD ranks fourth in sales volume in Korea, trailing only Tesla, BMW, and Mercedes-Benz. Once dominant players such as Audi, Volvo, and Lexus now find themselves behind BYD in market position. Notably, even when aggregating all Japanese automakers entering the Korean market, their combined sales fall short of BYD’s. As of July, BYD sold 2,846 units in Korea—surpassing the total sales of all Japanese manufacturers, including Lexus and Toyota, which collectively recorded 2,825 units.
This is only the beginning. BYD has launched its best-selling SUV model in Korea—the Seal 6—a mid-size plug-in hybrid designed to appeal to consumers still hesitant about pure electric vehicles due to charging concerns. Meanwhile, Zeekr, Geely’s premium electric vehicle brand, is fully expanding into the Korean market. Its first model, the 7X—an mid-size SUV—sold out its initial batch of 1,000 units during pre-sales in June.
Certainly, unlike Thailand, South Korea is a major automotive nation. Nevertheless, even in Europe, where established manufacturers dominate, Chinese electric vehicles are gaining momentum rapidly. With high quality, sophisticated design, strong performance, and competitive pricing, Chinese EVs are swiftly capturing market share in new car sales across Europe. Even Germany, historically the epicenter of global automotive manufacturing, now faces growing anxiety over the future of its industry. Whether South Korea will follow the path of Germany and other European nations remains uncertain.
Original source: toutiao.com/article/1878664453295116/
Disclaimer: The views expressed in this article are those of the author alone.