SEOUL, December 26 (AJP) - Chinese-manufactured vehicles have become South Korea’s second-largest category of imported cars, with 56,448 units sold through November, surpassing U.S. imports (43,623 units) for the first time and trailing only German imports (109,240 units).
The surge is largely attributed to Tesla’s Model Y and Model 3, produced at its Shanghai factory, which sold a combined 28,498 units. Volvo’s Chinese-made S90 and XC60 models added another 13,603 sales, while BMW’s electric vehicle offerings and Geely’s Polestar 2 also contributed to the growth.
Industry analysts predict further expansion in Chinese car imports in 2025, as manufacturers pivot toward the South Korean market following the European Union’s imposition of tariffs of up to 45.3 percent on Chinese electric vehicles in October.
The trend is poised to gain momentum with BYD, the world’s largest electric vehicle maker, entering the South Korean market in January. BYD plans to partner with six selected dealers and is reportedly in talks with Lotte Rental, South Korea’s largest car rental company, to broaden its reach.
The rising demand reflects a growing appetite among South Korean consumers for competitively priced electric vehicles.
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