South Korean media: "Don't buy Chinese cars"? BYD's monthly sales in South Korea exceed General Motors!

On January 8, the South Korean media outlet "Newsworks" published an article stating that China's largest electric vehicle manufacturer, BYD, is beginning to emerge in the domestic South Korean automotive market. Its products are known for their high cost-effectiveness and good product quality. Despite some lingering stereotypes about "Chinese cars," BYD ranked fifth in imported car sales in November last year, surpassing South Korean automaker General Motors Korea.

According to data released by the Korean Association of Importers and Dealers of Automobiles (KAIDA), BYD sold a total of 1,164 vehicles in South Korea in November, an increase of 41.3% compared to the previous month. BYD's brand sales ranked fifth, following Tesla, BMW, Mercedes-Benz, and Volvo, marking the best performance in its first year in the South Korean market.

By model, the mid-size electric SUV "Seagull 7" led with sales of 680 units. Following closely was the "ATTO 3" with sales of 444 units, and the "Seagull" sold 40 units. Monthly sales have been steadily increasing, rising from 10 units in March to 1,020 units in September, reaching 1,164 units in November, with a total annual sales of 4,955 units, close to 5,000 units.

The rapid growth of BYD is attributed to its ability to overcome distrust of Chinese cars in the South Korean market through cost-effectiveness and practicality—this had previously been a major obstacle for its entry into the South Korean market. BYD Korea officially entered the South Korean market on January 16 of last year.

The first model launched was the compact electric SUV "ATTO 3," which immediately attracted attention. Within a week of its launch, the pre-order volume exceeded 1,000 units. In April, the "ATTO 3" sold 543 units, ranking first in imported electric vehicle sales.

Subsequently, BYD Korea quickly expanded its product line, launching the mid-size sedan "Seagull" and the mid-size SUV "Seagull 7," further accelerating sales growth. In September, BYD Korea's monthly sales exceeded 1,000 units for the first time.

Especially the "Seagull 7" has attracted considerable attention from South Korean consumers due to its high demand in the mid-size SUV segment in South Korea. Its price of 44.9 million won is more affordable than the Tesla Model Y or the Kia EV6. After subsidies, the actual purchase price of the main models is below 40 million won, which is highly overlapping with the price range of models from the three major South Korean automakers.

Service infrastructure is also rapidly expanding. BYD Korea has increased its service centers from 11 to 16, and its showrooms have increased to 24.

Industry insiders believe that this proactive expansion of service infrastructure indicates that the company has no intention of exiting the South Korean market regardless of short-term performance. This is interpreted as a clear move toward long-term market development.

At the same time, one of South Korea's three major mid-sized automakers, General Motors Korea, experienced a decline in performance. General Motors Korea sold 973 units in South Korea in November, a decrease of 46.6% year-on-year and 18.5% month-on-month.

Original article: toutiao.com/article/1853749094701065/

Statement: The article represents the views of the author.