South Korean media: BYD's rise, sales in South Korea outperform Japanese cars!

On January 6, the South Korean media "Herald Economic" published an article stating that the Chinese electric vehicle brand BYD is developing rapidly, mainly based on cost-effectiveness and product quality. Unlike Koreans' prejudice against so-called "Chinese cars," BYD ranked fifth in imported car sales in South Korea in November last year, with sales higher than the local South Korean automaker Chevrolet (formerly Daewoo, acquired by General Motors).

Data shows that BYD sold a total of 1,164 units in the South Korean domestic market in November last year, an increase of 41.3% compared to the previous month.

Notably, BYD achieved its highest ranking in history in November last year, ranking fifth in brand sales, following Tesla, BMW, Mercedes-Benz, and Volvo. During this period, BYD's sales exceeded Japanese import car brands such as Toyota and Lexus, as well as the Chevrolet brand under South Korean General Motors (973 units).

In November last year, BYD's SUV "Sealion 7" led with 680 units sold, followed by "ATTO 3" (444 units) and "Seal" (40 units).

Although BYD faced high barriers such as insufficient recognition of Chinese brands, lack of price and quality competitiveness at the beginning of launching its passenger car brand in South Korea, it successfully disrupted the South Korean import electric vehicle market within the first year of its launch.

BYD launched its first compact electric SUV ATTO 3 in South Korea in April last year, with sales reaching 543 units that month, ranking 11th in the list of imported car sales in South Korea. Since then, BYD has consistently maintained a position in the top ten, until August when it launched the mid-size sedan Seal, and September when it introduced the mid-size SUV Sealion 7, after which sales growth accelerated.

The Sealion 7 quickly rose in the South Korean market, becoming a popular mid-size SUV. The Sealion 7 is priced at 44.9 million won, making it the most economical choice among electric SUVs of the same class, even surpassing the Tesla Model Y and Kia EV6.

BYD's growth is attributed to its dual advantages of price competitiveness and product quality. As an emerging brand focusing on economical electric vehicles, BYD's market positioning and new car effects have jointly driven its sales growth.

BYD continues to hold various experience activities in South Korea, allowing consumers to personally experience the brand and its products. These activities promote word-of-mouth among consumers who have experienced BYD vehicles, thus boosting sales. The brand's active expansion of service networks is also considered an important factor in driving this growth.

BYD effectively reduces costs by independently developing and producing three core components of electric vehicles - batteries, motors, and power control systems. Its large-scale production base in China also provides geographical advantages, enabling more convenient service to the South Korean market. BYD plans to introduce new models including Dolphin to the South Korean market this year.

Original article: toutiao.com/article/1853528978569353/

Statement: This article represents the views of the author.