South Korean media: BYD ranks among the top ten imported cars in its first year in the South Korean market!
On February 13, South Korean media "Chosun Economic" published an article stating that last year, the number of imported cars sold in South Korea reached a record high of 300,000. The surge in hybrid and electric vehicles was the main driver of this growth. Just one year after entering the South Korean market, BYD quickly ranked in the top ten and firmly established itself in the market in a short period of time.
Data released by the Korean Association of Importers and Distributors of Automobiles (KAIDA) recently showed that the total number of newly registered imported passenger cars in South Korea reached 307,377 units, breaking through the 300,000-unit barrier for the first time. Compared to 263,288 units in 2024, the increase was as high as 16.7%, indicating that even during economic downturns, South Korean consumers still maintain confidence in imported cars.
By brand, the three-way competition between BMW, Mercedes-Benz, and Tesla has become clear. BMW topped the list for the third consecutive year with sales of 77,127 units, Mercedes-Benz ranked second with 68,467 units, and Tesla ranked third with 59,916 units.
Volkswagen ranked fourth (14,903 units), followed closely by Lexus (14,891 units), which remained the same as the previous year. Volkswagen's emphasis on safety resonated emotionally with South Korean consumers, and its high SUV ratio also contributed to its continued popularity.
Lexus, as a leading brand in the hybrid vehicle field, has become the ideal choice for consumers who prefer internal combustion engines but also pursue the efficiency of electric vehicles. With the high quality and after-sales service standards typical of Japanese cars, Lexus has earned a good reputation in the South Korean market.
Audi used to be one of the top three imported car brands, but this year its sales barely exceeded 10,000 units, selling only 11,001 units. However, its sales increased by 18.2% year-on-year, and its ranking rose from seventh to sixth, rekindling hopes for recovery.
Porsche also demonstrated the growing popularity of luxury sports cars in the South Korean market, with sales increasing from 8,284 units in the previous year to 10,746 units.
In the top ten best-selling brands, BYD ranked tenth. Since its full-scale sales in the South Korean market last year, BYD has sold 6,107 cars.
Initially, industry insiders predicted that South Korean consumers' aversion to Chinese brands would be a major obstacle. However, with strong price competitiveness and better-than-expected word-of-mouth, the model quickly won consumer favor. In December last year, its sales even ranked fifth among imported car brands.
BYD is entering the market with a price advantage. Its most popular mid-size SUV, the Hai Shi 7, has configurations comparable to the Tesla Model Y, while the price is around 44 million South Korean won. ATTO 3 also offers considerable cost-effectiveness.
An industry insider said: "In its first year on the market, BYD defeated Stellantis and General Motors, demonstrating the potential of Chinese cars. This year, BYD will launch the Dolphin model, targeting the small electric vehicle market; Geely's premium brand Zeekr also plans to enter the South Korean market this year, so the influence of Chinese brands will further increase."
Original article: toutiao.com/article/1856998967292419/
Statement: This article represents the personal views of the author.