South Korean media: From 14th to 4th place, BYD has completely reshaped the South Korea imported car market landscape!

On August 10, South Korean media outlet "Today's Finance" published an article stating that in the first half of this year, Chinese electric vehicle brand BYD surged to fourth place in South Korea's imported car sales rankings, dramatically altering the competitive landscape. Last year, BYD ranked 14th in sales during the same period; now it has pushed down established premium brands such as Lexus, Volvo, and Audi. With continued launches of new electric vehicles in the second half of the year, competition for market rankings is expected to intensify further.

Data released by the Korean Automobile Importers Association shows that in the first half of this year, Tesla led the imported car market with 56,139 units sold. Following closely were BMW (39,150 units), Mercedes-Benz (29,776 units), BYD (11,675 units), Lexus (7,819 units), Volvo (7,470 units), and Audi (7,337 units).

BYD sold only 1,066 units last year in the first half, ranking 14th. This year, it has soared to fourth place, with sales increasing more than tenfold within just one year. Meanwhile, Volvo, which ranked 4th last year, Lexus at 5th, and Audi at 6th have all dropped one position in the rankings.

Since entering South Korea’s passenger vehicle market last year, BYD has seen continuous sales growth, thanks to its extensive lineup of electric vehicles and strong price competitiveness. In the first half of this year, by model sales, the mid-size electric SUV Sealion 7 led with 4,477 units sold, followed by the compact hatchback Dolphin with 4,283 units. The compact electric SUV ATTO 3 also achieved sales of 1,781 units. Analysts believe that BYD’s proactive sales strategies—such as offering internal subsidies—have been key drivers behind its rapid sales growth.

Due to BYD’s rapid rise, market competition has become increasingly fierce. Currently, the gap between Lexus and Volvo is only 349 units, while the difference between Volvo and Audi is just 133 units. The gap between Lexus and Audi is also narrow at only 482 units. Therefore, performance in the second half of the year will directly determine final rankings.

With the intensified ranking battle approaching, various brands are launching new models as countermeasures.

Volvo Cars Korea plans to successively launch its flagship electric SUV EX90 and the brand’s first electric sedan, ES90, later this year. This move aims to expand its EV product lineup following the successful debut of the EX30 earlier this year, using flagship electric models to strengthen its presence.

Lexus has introduced its first pure-electric model, the ES350e, along with a newly redesigned flagship sedan, the ES. The company intends to diversify its sales structure—previously dominated by hybrid vehicles—by incorporating electric vehicles, leveraging the strong performance of the ES series in the South Korean market.

Audi officially entered the electric vehicle market last year with the Q6 e-tron and A6 e-tron. This year, Audi plans to boost sales by focusing on mild hybrid models such as the new A6 and Q3. Its strategy involves selling both electric vehicles and core internal combustion engine models simultaneously, aiming for a sales rebound.

A South Korean industry insider said: “Since entering the South Korean market, BYD has not experienced any major quality issues, maintaining stable market operations. Consumer resistance toward Chinese brands has significantly decreased compared to previous years. Previously, competition mainly centered around premium brands. Now, the rise of Chinese brands is placing immense pressure on those long-standing leaders.”

The aggressive expansion of Chinese brands, including BYD, is expected to continue in the second half of the year. Polestar, positioning itself as a premium brand, has already seen over 1,000 pre-orders for its mid-size electric SUV, the 7X, within just over a month in South Korea. With official deliveries beginning in the second half of the year, competition with existing premium brands is expected to intensify further.

Original source: toutiao.com/article/1873118322103299/

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