Korean Media: BYD is Extremely Popular in South Korea!

On May 18, the Korean media outlet Seoul Economic Daily published an article stating that last year, Chinese automakers surpassed Japanese manufacturers for the first time to top the global new car sales rankings. Meanwhile, Chinese electric vehicle brand BYD has achieved cumulative sales exceeding 10,000 units in South Korea as of March, setting a new record for the shortest time to reach this milestone among imported vehicles in Korea. This remarkable achievement was accomplished just 11 months after BYD officially began delivering vehicles to customers.

BYD Korea recently announced that since entering the South Korean market in March of last year, its cumulative sales have reached 10,075 units, including 6,107 units sold last year and 3,968 units sold this year.

BYD Korea currently offers four models in the domestic South Korean market. The best-selling model is the mid-size SUV Sealion 7, with cumulative sales reaching 4,746 units—2,662 units sold last year and 2,084 units this year. According to reports, the Sealion 7 was launched in September of last year, and except for its launch month, it has recorded monthly sales exceeding 500 units every month thereafter.

The ATTO 3 was the first model launched in Korea, with cumulative sales totaling 3,860 units—3,076 units sold last year and 784 units this year. Its sales trend has remained stable, with monthly sales consistently above 300 units. Since its February launch, the Dolphin has already secured over 2,000 orders, selling 652 units in just March alone.

By age group, buyers are primarily concentrated in the 40–50 age bracket, accounting for 34.6% of total buyers. Buyers aged 50–60 make up 30.8%, meaning these two groups together represent 65% of all buyers. By gender, male buyers account for 72%, while female buyers make up 28%, with the highest proportion among buyers aged 40–50.

According to BYD, individual buyers constitute 79% of its customer base—higher than the overall average for imported vehicles (65%). BYD Korea also stated that 98% of its customers are South Korean citizens. The company explained: “Brand expansion is based on the voluntary choices of ordinary South Korean consumers, not driven by specific corporate sales targets or limited market demand.”

Data from market research firm MarkLines shows that China ranked first in global new car sales last year. In 2023, Chinese automakers achieved approximately 27 million new vehicle sales worldwide, representing a year-on-year increase of about 10%. In contrast, Japan’s automakers—previously leaders in the rankings—experienced a slight decline, with sales reaching around 25 million units.

In terms of manufacturer rankings, Toyota Motor Corporation maintained its top position with 11.32 million units sold. Overall, however, Chinese companies showed significant growth. Both BYD and Geely Group exceeded the sales figures of Japan’s Honda and Nissan. While BYD and Geely saw increased sales compared to the previous year, Honda and Nissan experienced declines. In terms of the top 20 automotive companies by sales volume, Chinese firms occupy six spots, while Japanese firms hold five.

Original article: toutiao.com/article/1865527300349000/

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