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Mercedes-Benz and Renault Motors have been criticized for not taking part in the 2022 Busan International Motor Show (BIMOS), prioritizing finances over participation as members of the nation's automotive ecosystem.
According to BIMOS organizers and industry authorities, the two businesses' departures might have an influence not just on the event, but on the entire local industry ecosystem, since other international and domestic carmakers may withdraw from future events.
Mercedes-Benz is the country's best-selling foreign brand, while Renault's Korean unit is located in Busan.
Domestic carmakers, as well as the imported automobile sector, which accounts for 30% of the local market, have been urged by critics to pay greater attention to domestic motor events.
BIMOS has struggled to attract carmakers in recent years, as trends have shifted away from hardware and toward electrification and software.
BIMOS is set to take place in July for the first time in four years, and Hyundai Motor Group's Hyundai Motor Company, Kia Corp., and Genesis, as well as BMW Group's Mini and Rolls Royce, have all shown an interest.
A Renault executive explained that they are in a different situation than other corporations that are canceling their participation since they are experiencing financial challenges. The carmaker vowed to make every effort to attend the next event."
Mercedes-Benz claims that the Busan Motor Show does not suit the company's vision and direction, which was a major reason for not participating.
To market their products, car manufacturers must spend millions, if not billions, of won, depending on the size of the exhibit. Some say that domestic auto shows should become more appealing venues in order to better market the participating businesses.
