BYD sold more than 20,000 cars in South Korea — Kathmandu Post

China’s BYD sold more than 20,000 cars in South Korea in the first nine months of the year, surpassing the combined sales of Toyota and Lexus. This was reported by Kathmandu Post, citing research company Carisyou.

Demand for affordable electric vehicles

Chinese manufacturers are expanding their presence in South Korea thanks to demand for low-cost electric vehicles. About a quarter of new cars sold in the country this year were electric, while in Japan their share was 3%.

Lee Jae-il, an analyst at Eugene Investment & Securities, said BYD had made good use of the situation. According to him, gasoline prices have risen by nearly 10% since the start of the U.S. and Israel’s war with Iran, while Hyundai and Kia are largely focused on premium electric vehicles and offer only a few models priced below $30,000.

Geely’s Zeekr brand began taking orders for the 7X crossover in South Korea in June and plans to open up to 14 showrooms by the end of the year. Chery is expected to enter the Korean market in 2027, according to an industry presentation reviewed by Reuters. Xpeng, which established a local unit last year, is looking for a specialist to develop its retail network.

More current news is available on the UA.News Telegram channel Telegram.

The Japanese market is more difficult

It is more difficult for Chinese manufacturers to gain a foothold in Japan: foreign brands account for about 6% of passenger-car sales, while local drivers mainly choose hybrids, a technology promoted by Toyota.

BYD has been operating in the Japanese market since 2023, has more than 75 dealerships and ultimately plans to increase their number to 100. In the first nine months of the year, the company sold fewer than 4,000 cars there, corresponding to a 0.1% market share.

In July, BYD launched an electric vehicle in the compact kei-car segment, which is dominated by Japanese manufacturers. As of September, the company had sold about 650 such vehicles. Chery-backed startup EMT intends to launch a kei car in the first half of 2027 and three more models by 2029.

According to a Pew Research Center survey, 88% of Japanese people and 71% of South Korean residents expressed unfavorable views of China this year. At the same time, a BYD Auto Japan representative said diplomatic tensions between Tokyo and Beijing had not had a significant impact on the company’s sales, showroom visits or customer inquiries. Ruling party lawmaker Daishiro Yamagiva told Reuters that Japan should take into account the security risks of vehicles that can be controlled remotely.