Chinese automakers' global new vehicle sales surpassed Japanese manufacturers for the first time last year, claiming the world's top position. Meanwhile, Chinese electric vehicle brand BYD has exceeded 10,000 cumulative sales in Korea as of March, setting the fastest record among imported car brands in the country. The milestone came just 11 months after the company began its first official customer deliveries in April last year.
BYD Korea announced Monday that it has sold a total of 10,075 vehicles since entering the Korean market in March last year through last month. Of these, 6,107 units were sold last year and 3,968 units this year.
BYD Korea currently offers four models in the domestic market. The bestseller is the Sealion 7, a midsize sport utility vehicle, with 2,662 units sold last year and 2,084 units this year, totaling 4,746 units. The Sealion 7, unveiled in September last year, has reportedly sold more than 500 units every month except for its launch month.
The Atto 3, BYD's first model launched in Korea, recorded sales of 3,076 units last year and 784 units this year, totaling 3,860 units. This model has also maintained steady performance with an average of more than 300 units sold per month. The Dolphin, which surpassed 2,000 contracts after its February launch, sold 652 units in March alone. The success is attributed to its "value-for-money" strategy with pricing in the 20 million won range.
By age group, buyers were concentrated in the 40-50 demographic, with those in their 40s accounting for 34.6 percent and those in their 50s for 30.8 percent, together representing 65 percent of total buyers. By gender, males accounted for 72 percent and females 28 percent, with the 40s age group showing the highest proportion for both genders.
According to BYD, individual buyers represented 79 percent of total purchases, higher than the overall imported car market average of 65 percent. BYD Korea also noted that 98 percent of its customers are Korean nationals. "The brand is expanding based on voluntary choices by ordinary domestic consumers, rather than specific corporate fleet orders or limited demand," the company explained. Analysts suggest that being a "Chinese brand" is not acting as a limiting factor in the Korean market.
According to a recent report by Nikkei citing data from market research firm MarkLines, China also topped the global new vehicle sales rankings last year. Chinese automakers sold approximately 27 million new vehicles worldwide last year, up about 10 percent from the previous year. Japanese automakers, the previous leader, saw sales decline slightly to approximately 25 million units.
In company rankings, Japan's Toyota Motor maintained its undisputed top position with 11.32 million units sold, but Chinese automakers showed remarkable growth overall. Both BYD and Geely Group sold more new vehicles than Japan's Honda and Nissan. While BYD and Geely Group increased their sales year-on-year, Honda and Nissan saw declines. Among the top 20 automakers by sales volume, China had six companies compared to Japan's five.
