수입차 시장의 지각변동: 중국 전기차의 질주와 일본차의 생존 전략 > K-wave Trends

BYD's arrival in the domestic market went beyond the mere emergence of a new brand and became an inflection point that shook the brand power landscape of the imported car market. BYD, which entered the domestic passenger car market in earnest last year, beat established brands such as Audi, Volvo, and Lexus in a short period of time and ranked in the top 4 in imported car sales. In particular, the electric vehicle lineup, which includes SUVs, hatchbacks, and sedans such as the Sea Lion 7, Dolphin, and Ato 3, is evaluated as having built a solid sales base that is not dependent on specific models. The reasonable price point offered by BYD was a strong attraction for consumers who wanted to choose an electric vehicle in the era of high oil prices, which ultimately led to the breakdown of deep-rooted prejudices about Chinese cars.

The rapid progress of Chinese brands is also proven by numbers. Last April, China overtook Japan for the first time in the number of new car registrations by country and took third place, which shocked the industry. Chinese companies are quickly replacing the vacancies previously occupied by Japanese brands with a powerful weapon called electric vehicles. Industry experts analyze that beyond the simple effect of electric vehicle subsidies, the autonomous driving technology and software-driven vehicle (SDV) competitiveness secured by Chinese companies drove consumers' choice. The level of their penetration of the Korean market is increasing, with new Chinese electric vehicle brands such as ZEEKR entering the domestic market in earnest this year and expanding their showrooms.

In response to China's offensive, Japanese brands have chosen a strategy to protect loyal customers through 'customer service optimization' and 'digital innovation'. Toyota Motor Korea recently joined hands with the Korea Insurance Development Institute to introduce a vehicle data linkage service, greatly simplifying the insurance premium discount process. This is a practical effort to resolve the inconvenience of consumers missing out on discount benefits due to complicated supporting documents even when equipped with advanced safety devices. In addition, brands such as Lexus are significantly increasing physical contact points with customers through department store pop-up exhibitions, etc., and are reaffirming their value as a premium brand by allowing them to directly experience the product's quietness and driving sensibility.

Of course, the road ahead for Japanese brands is not always smooth. Lexus recently implemented a large-scale recall due to digital instrument cluster error issues, reminding us of the importance of quality control. In addition, we made the decision to completely suspend the mass production plan for 'LF-ZC', the next-generation electric vehicle model that we had ambitiously prepared in line with market conditions. This is a strategic revision that takes into account changes in the market environment, such as the slowing demand for electric vehicles in the United States and the recovery in popularity of hybrid vehicles, but it is the result of intense consideration to gain a technological edge. Toyota plans to use the new battery technology obtained here in China, the harshest market, and is showing a flexible attitude to survive in the future car market.

In the end, the current imported car market is a complex battlefield where ‘paradigm shift in technology’ and ‘diversification of consumer tastes’ go hand in hand. Chinese cars are aggressively expanding their market share by leveraging their technology in the SDV field beyond low prices, while Japanese cars are maximizing their inherent strengths through the stability of hybrid technology and advanced customer management services. An era has arrived where past brand reputations alone cannot retain consumers. The landscape of the imported car market is expected to become more sharply divided in the future depending on how quickly each brand understands changing consumer needs and provides marketability and technological innovation that match them.