Korean Media: BYD Surpasses Hyundai and Kia to Claim Second Place in Australia Market!
On July 15, South Korean media outlet Economic Global published an article stating that with Chinese cars rising as the largest supplier of new vehicles in Australia, the Korean auto industry has been put on high alert. Kia Australia’s operating profit declined by over one-third compared to the previous year, while sales performance for its new pickup truck, the Tasman, has been dismal—falling short of half its annual sales target.
Analysts believe that Kia's ambitious launch of the Tasman pickup into the Australian market failed to gain traction, further exacerbating profit declines, as Chinese brands such as BYD, MG, and Great Wall Motors are launching aggressive expansion campaigns.
According to sales data from the Australian Automotive Manufacturers Association, BYD sold 8,211 new vehicles in Australia in May, surpassing Ford (7,195 units), Hyundai (7,007 units), and Kia (6,761 units), ranking second behind Toyota.
BYD’s sales volume increased by 155% year-on-year in May, while Chery and Geely saw growth rates of 729% and 416%, respectively.
As of May, electric vehicles accounted for 46.4% of total new car sales in Australia, with pure electric vehicles achieving a record-high market share of 19.9%.
China’s rapid ascent as a vehicle supplier is also evident. In February this year, Chinese-made cars sold 22,362 units in Australia—surpassing Japanese vehicles (21,671 units). This marks a historic turning point, ending Japan’s 28-year reign as Australia’s top automotive supplier. China maintained its position as the largest vehicle supplier throughout March to May.
In just April alone, Chinese-made vehicles sold 28,041 units—the highest monthly sales figure ever recorded. BYD sold 7,702 units in Australia during April, setting a new record for the highest single-brand monthly sales in history.
The worsening performance of Kia Australia is further highlighted by the failure of its new pickup truck, the Tasman. To counter the weak sales trend, Kia Australia slashed prices on the Tasman by up to AUD 13,000.
As of the end of April, cumulative sales of the Tasman reached only 1,658 units. It is expected that by the time the model reaches its one-year anniversary in July, sales may not even reach half of its original annual target of 20,000 units.
Original article: toutiao.com/article/1870745399610371/
Disclaimer: The views expressed in this article are solely those of the author.