South Korean media: BYD leads the way as Chinese auto brands rise globally!

On June 15, South Korean media "Everyday Economy" published an article stating that under the rapid growth of BYD in China, the global automotive market is being restructured. In the first quarter, BYD's sales reached 1.1 million units, while other Chinese brands such as Geely and Chery also achieved double-digit growth rates, whereas Japanese brands are struggling.

According to the Korea Automotive Institute and industry insiders, BYD's global vehicle sales in the first quarter this year increased by 62.7% year-on-year, reaching 1.102 million units.

This year, BYD has risen from tenth place last year to seventh place.

On the other hand, Honda ranked ninth with sales of 0.911 million units in the same period, a decrease of 8.7% compared to the previous year. Sales have declined for three consecutive years since 2022. The reasons for Honda's poor performance include the decline in demand for Japanese cars in the Chinese market, lack of an electrification strategy, and certification risks, among others.

The Hyundai Motor Group maintained its third position with sales of 1.63 million units. After Toyota (2.413 million) and Volkswagen (2.045 million), it continues to hold its position as one of the top three automakers globally. Chinese brands such as Geely continued to grow, increasing by 27.2% year-on-year, and Chery by 17.0%.

BYD's overseas sales have also surged significantly, with exports increasing more than twofold in the first quarter. In South Korea, ATTO 3 began customer deliveries in April, with a total of 543 vehicles shipped from the 14th to the 30th.

In addition, according to the Japan Automobile Importers and Distributors Association (JAIA), BYD sold 2,223 vehicles in Japan last year, an increase of 54% over the previous year. This ranks second in the imported electric vehicle segment, trailing only Tesla (5,600 units).

A South Korean automotive industry insider stated, "The recent sales of China's auto industry have shown significant growth. As traditional giants in the internal combustion engine sector decline, the global automotive industry is forming a new landscape."

Original source: https://www.toutiao.com/article/1834978457097420/

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