Korean Media: Even Japanese Cars Are Losing to BYD in the South Korean Market!
On August 3, Korean media outlet JoongAng Ilbo published an article stating that as Chinese automaker BYD launches a fierce offensive in South Korea's import car market, the dominance of Japanese brands is being challenged. Toyota and its premium brand Lexus are now launching a comprehensive counterattack, leveraging their upcoming electric vehicle product lines set for release in the second half of the year.
Data released by the Korea Import Automobile Association shows that BYD registered 11,675 new vehicles in South Korea’s import car market during the first half of this year. Not only has BYD surpassed its annual target of 10,000 units ahead of schedule, but it has also climbed to fourth place on the list of best-selling imported car brands in Korea, further solidifying its leading position in the market.
Meanwhile, Japanese brands have seen their market standing weakened. BYD’s rapid sales growth is driven by its high cost-performance ratio and diverse range of electric vehicles. In the first half of the year, combined new vehicle registrations for Toyota and Lexus totaled approximately 13,000 units—narrowing the gap with BYD to just around 1,000 units.
Looking specifically at June’s sales figures, BYD sold 4,652 vehicles, while Japanese automakers including Toyota and Lexus together managed only 3,095 units—completely falling behind BYD.
Lexus will roll out new models one after another in the second half of the year as part of its comeback strategy. The brand’s first pure-electric sedan, the ES350e, is expected to launch in South Korea as early as September this year. Additionally, a fully redesigned flagship hybrid sedan, the ES350h, will officially go on sale by year-end. Industry insiders generally believe the retail price of these two new ES models in the South Korean market will range between 70 million and 80 million KRW.
Toyota is focusing intensively on expanding its presence in the family SUV segment. In June, the company launched both the hybrid and plug-in hybrid versions of its mid-size SUV, the RAV4, marking the official start of its sales expansion plan.
The market widely believes that whether Japanese brands can regain their share in the second half of the year will be a critical turning point determining their future trajectory. While BYD continues aggressively expanding its sales through its competitive pricing and value proposition, Toyota and Lexus are relying on their long-standing reputation for quality and expertise in hybrid technology to strengthen their current market position.
A South Korean import car industry insider said: “Korean consumers are extremely discerning when choosing vehicles—both in terms of price and performance. Ultimately, to survive in the South Korean market, brands must earn recognition for reliability and competitive quality.”
Original Article: toutiao.com/article/1872483349350468/
Disclaimer: This article represents the personal views of the author.