South Korean media: China's electric vehicle company BYD ATTO 3 tops the list of imported electric vehicle sales in its first month after being launched in South Korea.
The price after subsidy is between 25 million and 30 million won, with higher price competitiveness than domestic and foreign cars.
In its first month in the South Korean market, BYD, a Chinese electric vehicle company, topped the sales chart for imported electric vehicles. In April's sales performance, BYD defeated Tesla, which had been leading the charts. On August 8th, according to the Korea Automobile Importers & Distributors Association (KAIDA), after BYD launched its small SUV "ATTO 3" [543 units] in South Korea in April, BYD ranked first in April's imported electric vehicle sales. Tesla's mid-size SUV "Model Y Long Range" [533 units] and mid-size sedan "Model 3 Long Range" [350 units] ranked second and third respectively. BYD defeated Tesla, which had occupied the top two positions in the imported electric vehicle market in 2024 with "Model Y" and "Model 3". In 2024, Tesla introduced locally produced models from China, which were about 1 billion won [approximately RMB 50,000] cheaper than American-made models, and its overall sales increased nearly twofold year-on-year. However, before the partial redesign of "Model Y" later this year, sales have been sluggish. From January to April, Tesla's sales in South Korea [6,265 units] decreased by approximately 21% year-on-year.
Analysts say that the price competitiveness of Chinese electric vehicles also works in South Korea. The starting price of ATTO 3 is 31.5 million won [approximately RMB 160,000], and the actual price after subsidy is between 25 million and 30 million won [approximately RMB 130,000 to 150,000]. The power [150 kW] and single charge range [321 kilometers] of ATTO 3 are almost on par with Kia EV3's standard configuration, but the price is about 8 million won [approximately RMB 40,000] lower. Chinese electric vehicles mainly use low-efficiency lithium iron phosphate [LFP] batteries, and the subsidy amount is lower than that of South Korean vehicles. Based on purchasing in Seoul, the total subsidy for EV3 is 5.28 million won [approximately RMB 27,000], while ATTO 3 is 1.57 million won [approximately RMB 8,046]. Despite the latter's subsidy being only one-third of the former, the lower base price offsets this difference.
In April, ATTO 3's sales did not surpass South Korean domestic electric vehicles such as Kia's small SUV "EV3" [3,388 units] and Hyundai's large SUV "IONIQ 9" [1,128 units]. However, it is predicted that the new car effect will officially take effect from May. The sales calculation cycle for ATTO 3's April performance is from the 14th to the 30th, which is only 17 days of sales.
Source: Chosun Ilbo
Original article: https://www.toutiao.com/article/1831619982029824/
Disclaimer: This article represents the views of the author only.