In brief
BYD has sold more than 20,000 electric vehicles in South Korea in the first nine months of the year, outpacing Toyota and Lexus combined, thanks to low prices and quick delivery. In Japan sales are modest, with around 4,000 units and a 0.1% market share, as consumers favor hybrids and distrust Chinese models. Industry analysts say BYD’s strategy of building dealer networks and localizing cars is paying off in Korea, though Japanese attitudes remain skeptical.
BYD, the Chinese electric‑vehicle maker, sold more than 20,000 cars in South Korea in the first nine months of the year, according to market research firm Carisyou. That figure surpasses the combined sales of Toyota and its luxury brand Lexus in the same period. BYD’s attractive price—around $18,500 for the compact Dolphin—and fast delivery have drawn Korean buyers who previously had to wait years for local EVs.
Kim Min‑seon, 48, bought a BYD Dolphin in July, sparking a wave of comments in Seoul. “Everyone reacted like, ‘Why did you buy a Chinese car? Are you trying to get yourself killed?’” she said. Her purchase would have seemed unthinkable a few years ago, when Chinese cars were dismissed as shoddy.
"Everyone reacted like, ‘Why did you buy a Chinese car? Are you trying to get yourself killed?’"
In Japan, BYD’s sales remain modest, around 4,000 vehicles, representing about 0.1% of the domestic market. A Reuters investigation found that only 3% of new cars sold in Japan in 2023 were EVs, compared with roughly 25% in South Korea. Japanese consumers prefer hybrids and remain wary of Chinese brands, a sentiment echoed by industry analysts.
BYD’s success in Korea, and the company’s broader strategy, has been noted by experts. Liao Jingnan, founder of Tokyo‑based consultancy MobyInfo, said: "They enter first, watch what happens and gradually adjust their strategy." The company’s experience in building dealer networks and localizing its vehicles has been cited as a key factor in its rapid gain in South Korea.
