BYD Korea said on the 14th that it sold 10,075 vehicles through last month, surpassing 10,000 in cumulative domestic sales. It came 11 months after first official customer deliveries began on Apr. 14 last year, and a BYD Korea official said it was "the shortest period in the imported car industry." It said all major brands took several years, with Tesla Korea taking more than three years to exceed 10,000.
By buyer type, individual customers accounted for 79% of all customers. A BYD Korea official said, "It is high compared with the overall imported-car average of 65% for individuals and 35% for corporations." By model, individual customers for the Sealion 7 accounted for the largest share at 51.5% (4,104 units). In corporate sales, the Atto 3 was the most with 57.0% (1,200 units).
Of the buyers, 98% were Korean nationals. A BYD Korea official said, "It shows that the brand is spreading based on the voluntary choices of ordinary domestic consumers, not specific corporate volumes or restricted demand."
The core buying group among individual customers was people in their 40s and 50s. Those in their 40s made up 34.6% and those in their 50s 30.8%, with the two age groups accounting for 65% of the total. By gender, men were 72% and women 28%.
By region, the Seoul metropolitan area, including Seoul, Gyeonggi and Incheon, accounted for 47%, while non-capital regions accounted for 53%. The top regions by total sales were Gyeonggi (30.9%), Busan (12.9%), Incheon (8.0%), Seoul (7.9%) and South Gyeongsang (6.3%). For individual sales, Gyeonggi had a high share at 34.9%, while for corporate sales, Busan accounted for the largest share at 40.2%.
BYD Korea saw the expansion of its vehicle lineup as key. Starting with its first model, the BYD Atto 3, last year, it successively unveiled the 530-horsepower midsize sedan BYD Seal Dynamic AWD and the midsize sport utility vehicle (SUV) Sealion 7. Through this, it sold 6,107 units as of the end of last year.
This year, it is maintaining momentum by launching additional models in succession. The BYD Seal lineup added two rear-wheel-drive trims, the BYD Seal RWD and BYD Seal RWD Plus. Recently, it also launched the small hatchback BYD Dolphin in two trims. BYD Korea now has a total of four models and eight trims.
BYD Korea has also rapidly expanded its network. When the passenger-car brand was launched in January last year, it started with 15 showrooms and 11 service centers, and it now operates 32 showrooms and 17 service centers.
BYD Korea plans to focus this year on quantitative expansion of its network and improving operational completeness at each hub. It decided to push for further expansion, aiming to secure 35 showrooms and 26 service centers within the year.