Wang Xinghai,a 41 year-old computer salesman, stands outside a Hyundai Motor showroom near Beijing proudly clutching the keys to his new Elantra, the South Korean carmaker's family saloon. "I looked at Honda, GM and Volkswagen but Hyundai is a similar quality with a lower price," he says.

This is music to the ears of Liu Shun, the owner of the dealership in Wangjing, a suburb of the Chinese capital. He used to sell cars for Toyota of Japan but switched to Hyundai when it arrived in the market two years ago. "I am selling an average of three cars every day, compared to one when I was with Toyota," he says.