South Korean media: BYD has passed its first year in South Korea with flying colors!
On January 20, the South Korean media outlet "Newdaily" published an article stating that the Chinese electric vehicle brand BYD has gained a good reputation in the South Korean market within its first year. It is expected that the sales volume last year will exceed 5,000 units, and BYD is rapidly establishing itself, entering the top ten in the import car market share.
Industry insiders predict that the offensive of Chinese electric vehicle brands entering the South Korean market this year will be even more intense. With BYD successfully entering the South Korean market, companies such as Zeekr and XPeng are also actively preparing to enter the South Korean market, which will have a significant impact on the South Korean electric vehicle market structure.
According to data released by the Korean Association of Importers and Distributors of Automobiles (KAIDA), BYD sold a total of 4,955 vehicles in the domestic South Korean market from January to November last year. This sales performance is considered very successful.
Based on the sales trend at the end of the year, BYD's sales this year are expected to easily exceed 5,000 units.
With this achievement, BYD accounted for 1.78% of the import car market in South Korea last year, entering the top ten in its first year in the South Korean market. Notably, BYD ranked fifth in sales in November last year, following Tesla, BMW, Mercedes-Benz, and Volvo, with a rapid increase in market share.
The most important thing is that the new car effect is very significant. The compact SUV ATTO 3 was fully launched in April last year, driving sales, with an average monthly sales of over 320 units. The mid-size SUV "Haishi 7" also contributed to BYD's domestic sales, selling 2,018 units within three months of its launch.
Korean consumers' preference for electric vehicles is growing, which is attributed to the electrification strategies of both domestic and foreign automakers and the success of Tesla, which is also considered a factor in BYD's success.
According to KAIDA statistics, the number of newly registered imported electric vehicles in South Korea from January to November last year reached 84,045, an increase of 79.5% year-on-year, accounting for 30.1% of the total import car sales. Considering that the share of electric vehicles in import car sales was 19.5% in the same period in 2024, this means that the market share of electric vehicles increased by more than 10 percentage points in just one year.
Driven by BYD's successful establishment in the South Korean market, it is expected that Chinese electric vehicle brands will comprehensively enter the South Korean market starting this year.
A South Korean industry insider said, "BYD's performance shows that the perception of South Korean consumers towards Chinese electric vehicles is changing. It is expected that the offensive of Chinese electric vehicle brands will intensify this year."
Original: toutiao.com/article/1854805200552267/
Statement: This article represents the personal views of the author.