Is Toyota No Longer Popular? Japanese Media Focuses on More Domestic Brand Cars in Hong Kong Taxis

For many years, the taxis (taxis) of the Hong Kong Special Administrative Region have been dominated by the Toyota Crown Comfort. Now, with the transformation of Hong Kong's taxi industry, the "appearance rate" of domestic new energy vehicles is increasing.

The Japanese media "Nikkei Asia" published an article on November 2nd stating that domestic brand automakers are gradually establishing themselves in Hong Kong's taxi industry. Moreover, Hong Kong, which once served as a gateway for foreign automakers to enter mainland China, is now becoming a stepping stone for domestic brand automakers to expand overseas.

The report stated that Toyota cars are highly favored in Hong Kong for their fuel economy and reliability. It is said that more than 90% of the approximately 18,000 taxis in Hong Kong are Toyota cars. However, more and more domestic brand cars are appearing on the streets of Hong Kong.

"I like its quietness. Mainland tourists who are used to riding electric vehicles also like it," said a Hong Kong driver who drives a Shangchai Maxus brand taxi.

The Hong Kong Special Administrative Region government is encouraging new companies to enter the taxi industry to improve service quality. As of August this year, five operators have obtained licenses to provide app-based ride-hailing services under a new plan. The Hong Kong Special Administrative Region government stated that these five fleets will provide over 3,500 taxis, accounting for nearly 20% of all taxis in the city, and each fleet will provide electric taxis.

According to the report, one of the five operators, Star Taxi, mainly uses the Shangchai Maxus MIFA 7 model, while another operator, BigBoss Taxi, has introduced the Guangqi Chuanqi E9.

"Nikkei Asia" stated that although it is not yet clear how many domestic electric vehicles are in each operator's fleet, it is clear that the Hong Kong taxi industry, which has long been dominated by Toyota, has reached a turning point.

At the same time, domestic automobiles are also winning the favor of Hong Kong consumers, with new showrooms emerging like mushrooms in Hong Kong.

Data from the Hong Kong Special Administrative Region government shows that the sales of domestic brand cars in Hong Kong in July were approximately 1,500 units, accounting for about 40% of the market share, while Japanese brand cars accounted for less than 30%.

"In the past five years, the Hong Kong market has undergone a complete transformation," the report pointed out. In July 2020, Japanese brands accounted for nearly 70% of car sales in Hong Kong, while domestic brands accounted for less than 1%.

Now, many domestic automobile manufacturers also view Hong Kong as the first step in expanding to overseas markets. In early 2025, Li Auto established its overseas headquarters in Hong Kong. A senior executive of Li Auto stated that the company is determined to "enter the global market."

On the other hand, the report pointed out that Hong Kong's importance as a financing platform for mainland enterprises going overseas is increasingly evident. In September this year, Chery Automobile was officially listed on the Hong Kong Stock Exchange.

Last month, the Hong Kong Special Administrative Region government established a dedicated team for mainland enterprises going overseas. Hong Kong's Financial Secretary, Paul Chan, stated that the development of mainland enterprises going overseas is a trend, and in order to better grasp this opportunity, the Hong Kong Special Administrative Region government established the dedicated team to provide more comprehensive and stronger support for mainland enterprises going overseas.

Paul Chan stated that in addition to the relevant policy departments and agencies of the Hong Kong Special Administrative Region government, multiple public institutions, professional groups, chambers of commerce, and commercial organizations have joined the team as partners, pooling resources and drawing on collective wisdom to achieve greater synergy.

Original: www.toutiao.com/article/1847690830611463/

Statement: This article represents the views of the author.