<W commentary> Toyota's "Crown" landing in South Korea = Hyundai Motor, can change the power map in a country where German car manufacturers are strong?

Toyota Motor Corporation's Korean subsidiary, Toyota Motor Korea, launched a crossover (CUV) model of its luxury car Crown on the 5th of this month. On the same day, a new car sales event was held in Seoul, where the Crown was unveiled. Toyota anticipated that demand for CUVs, which combine the strengths of sedans and SUVs, would gradually increase in the Korean market, and was the first to launch a CUV in the Korean market. Toyota, the world's largest carmaker, launched its flagship model Crown in South Korea, and the Chosun Ilbo, a South Korean newspaper, quoted its own major carmaker, Hyundai's luxury car Genesis, and German cars, under the headline "Toyota's self-respecting 'Crown' lands in South Korea, Genesis and three German companies feel tension". The headline reported. Meanwhile, the Hankyoreh newspaper stated that "there is no atmosphere of concern among Korean manufacturers about the Crown's entry into the Korean market" and added: "In fact, it is a car model that I am not familiar with. It will be interesting to see what kind of competition there will be", said a source from a Korean finished car manufacturer.

A familiar luxury car in Japan, the Crown was released as Toyota's first mass-produced model in 1955, and is a traditional model that has continued for 16 generations under the same brand for 69 years. The car's name, which means 'crown' in English, was named by the late founder Kiichiro Toyoda, who was the grandfather of Chairman Akio Toyoda. In Japan, it was called the 'former president's car' and was synonymous with sedans.

The 16th generation Crown was unveiled for the first time in February last year and comes in four types: crossover, sedan, sports and estate. Of these, the Crown will be sold in Korea in two types: a 2.5-liter hybrid (HEV) and a 2.4-liter dual-booth hybrid. The price is around 50 million won (approximately 5.35 million yen), which is more than 10 million won higher than Hyundai Motor's Granger hybrid, which is said to be close to the Crown. The Chosun Ilbo said, "We aim to compete in the Korean market by highlighting Toyota's strength of 'hybrid'."

At an event commemorating the launch of the new Crown held in Seoul on the 5th, Manabu Imayama, President of Toyota Korea, said, "The hybrid model of the Crown sold in South Korea is a model that takes advantage of the strengths of both sedans and SUVs. ' explained. Managing Director Kang Dae-hwan said, "It is a car that breaks the concept of hybrid = fuel efficiency and gives you a feeling of driving."

Only 100 units of the 2.4-liter dual-booth hybrid will be sold in Korea, but project general manager Yuji Homma, who participated in the event online, said, "Customers who pursue both fuel efficiency and efficiency, diverse specifications and high-end performance. There are customers who demand , so we tried to show many specifications with a limit of 100 units."

Toyota cars were launched in South Korea around 2001 for the Lexus and 2009 for the Camry. The Hankyoreh Newspaper reported that, "In fact, this is not the first time the Crown has stepped on Korean soil" and that, "In 1969, before Korea had its own manufacturing technology, Shinjin Motors (the predecessor of GM Korea) concluded a technical cooperation and licence agreement to bring in and assemble parts for the second to fourth generation Crowns, which were then produced in Korea. In 1974, Toyota withdrew from the technical tie-up and the Crown disappeared from the Korean market."

According to the Korea Imported Car Association, sales of Japanese cars such as Toyota and Honda in South Korea were 16,991 units last year, the lowest since 2007. However, it is said to be picking up this year. In terms of the number of newly registered imported cars by brand in May, Mercedes-Benz topped the list with 6,292 units. This was followed by BMW (6,036 units), Volvo (1,502 units) and Porsche (1,005 units), followed by Lexus in 5th place (974 units) and Toyota in 9th place (629 units).

This time, attention will be paid to whether the arrival of the Crown will change the power map of imported cars in South Korea.