According to the Korea Automobile Importers & Distributors Association on Dec. 19, BYD sold 4,955 vehicles through November, accounting for 1.78 percent of the imported-car market. Based on recent sales momentum, full-year deliveries are expected to exceed 5,000 units.
Only nine imported brands outsold BYD during the period: BMW (70,541 units), Mercedes-Benz (60,260), Tesla (55,594), Lexus (13,894), Volvo (13,388), Audi (10,252), Porsche (9,739), Toyota (8,751) and BMW MINI (7,180).
In November alone, BYD ranked fifth among imported brands, trailing only Tesla, BMW, Mercedes-Benz and Volvo — a notable result for a newcomer.
BYD entered the South Korean market in January and has expanded its footprint by emphasizing price competitiveness. The company now operates 28 showrooms and 16 service centers nationwide.
Its local lineup debuted with the Atto 3 compact electric SUV, targeting value-oriented EV buyers, and has since expanded to include the Seal midsize electric sedan and the Sea Lion coupe-style midsize electric SUV.
Industry analysts say BYD’s early gains have been supported by South Korea’s accelerating shift toward electrified vehicles, driven by Hyundai Motor and Kia’s electrification strategies as well as Tesla’s continued success. Through November, cumulative registrations of electrified vehicles — including battery EVs and hybrids — rose sharply from a year earlier, lifting their share to roughly one-third of new passenger-car sales.
BYD’s momentum is also prompting other Chinese EV makers to formalize their Korea entry plans. Zeekr, the premium electric brand under Geely Holding Group, has recently signed dealer agreements with four local partners — H Mobility ZK, IronEV, KCC Mobility and ZK Mobility. Xpeng is also preparing to enter the market after establishing a South Korean unit in June.
“BYD’s performance goes beyond a typical new-brand launch and signals a rapid shift in Korean consumers’ perceptions of Chinese EVs,” an industry official said. “The competitive landscape could look very different as early as next year.”
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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