South Korean Media: One Year After Entering the Korean Market, BYD Sets a Record!
On May 11, South Korea's media outlet E-News Times published an article stating that BYD Korea has surpassed 10,000 cumulative sales just one year after entering the passenger car market in South Korea—setting a new record for the fastest time to reach 10,000 cumulative sales among imported vehicles. Moreover, with approximately 4,000 units sold in the first quarter alone, BYD Korea is on track to join the "10,000 Club" for annual sales.
BYD Korea officially launched its brand in April of last year and reached the 10,000-unit milestone by March this year—making it the fastest-growing imported automotive brand to achieve this feat in Korea. Its success stems from BYD’s ability to directly challenge long-standing perceptions about Chinese electric vehicles through its "outstanding performance" and "reasonable pricing."
The growth momentum is expected to intensify this year. First-quarter sales surged to 3,968 units, representing over a 20% increase compared to the previous quarter. In March alone, BYD sold more than 1,600 units, ranking fourth among import car brands in South Korea—behind Tesla, BMW, and Mercedes-Benz.
The key to BYD’s success lies in its robust product lineup. Following the compact SUV ATTO 3, which drove early sales growth, the high-performance SUV Sealion 7, launched in the second half of last year, continued to fuel strong sales momentum.
In March, the cost-effective compact hatchback Dolphin was added to the product line, further boosting sales figures. In just March, the Dolphin sold 652 units, forming a sales "double powerhouse" alongside the Sealion 7. Analysts believe that the groundbreaking price point slightly above 20 million won and solid core features have attracted budget-conscious consumers.
In addition, nationwide infrastructure development has played a positive role in BYD’s strong performance. Currently, BYD Korea operates 33 showrooms and 17 service centers across the country, with plans to expand to 35 showrooms and 26 service centers by year-end—to improve maintenance convenience, a long-standing weakness for imported vehicles.
A South Korean industry insider predicted: “Despite possible external supply fluctuations and policy changes, given BYD’s current product competitiveness and proactive marketing efforts, achieving the ‘10,000 Club’ target this year should be no problem. This year, BYD’s rise will reshape the import electric vehicle market previously dominated by Tesla.”
Meanwhile, BYD Korea’s growth aligns with the company’s rapid global expansion. BYD leads the global electric vehicle market, selling around 2.25 million pure electric vehicles last year—surpassing Tesla (1.63 million) to claim the top spot in worldwide sales.
Original source: toutiao.com/article/1864878123142217/
Disclaimer: The views expressed in this article are those of the author.