According to Yonhap News, data released by the Korea Automotive Industry Association (KAIDA) on June 1 showed that Chinese-made vehicles ranked third among imported cars registered in South Korea in April. This marked the first time in history that Chinese-made vehicles surpassed Japanese-made vehicles in terms of number of registrations.
Data shows that cars produced in Europe ranked first, with 16,800 units produced. Followed by cars produced in the United States (13,600 units), China (2,023 units), and Japan (1,774 units). Cars produced in China accounted for 6% of the total, slightly higher than Japans 5.8%.
Its worth mentioning that the statistics on Chinese-made cars only include BYD. In contrast, the statistics on Japanese-made cars include Lexus, Toyota, and Honda. This means that Chinese-made cars have managed to overtake Japanese-made cars due to just one brand.
BYDs new registrations amounted to 2,023 units, while Lexus had 1,079 units. Toyota and Honda respectively had 829 units and 66 units.
According to analysis, given the increased demand for electric vehicles due to rising oil prices, Chinese-made electric vehicles that combine competitive pricing with intelligent connectivity features are highly favored by Korean consumers.
