The strong decrease of Korean brands in China
- Hyundai-Kia group (Hyundai, Kia and Genesis brands) is currently the only major independent Korean carmaker at present, since the other carmakers are subsidiaries of the GM (GM Korea) and Renault-Nissan (Renault Korea) groups, while Ssangyong (released by the Indian Mahindra) is looking for a new buyer.
- The Hyundai-Kia group was one of the first to invest in the Chinese market in the early 2000s and its sales in this market grew rapidly, thanks to a range of inexpensive mid-range models (such as the Hyundai Elantra or the Kia Cerato) and largely amortised (because distributed in large quantities in South Korea).
- The Korean carmaker's sales thus passed the 100,000 unit mark in China in 2003, 200,000 in 2004, 300,000 in 2005, 400,000 in 2006 to reach one million in 2010 and 1.3 million in 2012.
- At that time, the Hyundai-Kia group represented 8.5% of the Chinese market and even 9% in 2014, which then marked the peak of sales for the Korean carmaker. From 2015, the Hyundai-Kia group began a slow decrease, with a market share that gradually fell from 5.0% in 2018, to 3.5% in 2020, 2.5% in 2021 and 1, 5% in 2022.
- The Korean group is therefore disappearing from the Chinese market, like the French group PSA before the formation of the Stellantisgroup. The Chinese brands that are progressing on the Chinese market have undoubtedly taken a big bite out of Hyundai-Kia's sales, because their services have become very close to those of the Korean carmaker, which may explain this development.
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