SAN JOSE, California/SEOUL—Hyundai Motor CEO Jose Munoz warned on Thursday that the US could face a similar wave of Chinese auto imports that has disrupted Europe’s car market unless Washington maintains tariffs and other market-access safeguards.
Chinese automakers have rapidly expanded in Europe, eroding the market share and profitability of established manufacturers including Hyundai and Volkswagen by offering vehicles at significantly lower prices.
Munoz said Chinese vehicles are 30% to 40% cheaper than rival models in some markets, including Italy, Spain and France.
That is despite trade barriers including tariffs or minimum pricing commitments that the European Union imposed on Chinese-built electric vehicles after concluding they benefited from unfair state subsidies….