South Korea Imported Car Sales Surge; BYD Breaks into Top Four

Imported car sales in South Korea rose by 9.2% in August to 29,817 units, with the growth largely driven by Tesla and BYD.

**Tesla and BYD Account for Nearly Half of Imported Car Sales**

Tesla delivered 10,400 units while BYD recorded 3,002 units, with the two brands combined taking up around 45% of total imported car sales.

Tesla's primary volume driver was the Made-in-China Model Y, whereas BYD's top seller last month was the all-electric Dolphin.

**BYD Ranked Among Top Four for the First Time in April, Overtaking Japanese Rivals**

Following its official entry into the South Korean market in January 2025, BYD broke into the top four imported car brands for the first time this April, marking the first time a Chinese carmaker has surpassed Japanese marques in the country.

**Government Subsidies Lost in July, Prices Held Steady via "Self-Subsidies"**

In July, due to an insufficient local service and charging network setup, BYD was excluded from the South Korean government's EV purchase subsidies (costing the Dolphin RWD version, for instance, a subsidy loss of KRW 1.69 million).

In response to the subsidy cut, BYD rolled out an in-house "self-subsidy" strategy to keep retail prices steady. Currently, the brand offers the Dolphin, Atto 3, Sealion, and Seal in the local market, spanning a price band from KRW 25 million to 45 million (approximately RMB 125,000 to 225,000).

**Delivering Highly Competitive Specs at the Right Price**

BYD's core playbook centres on offering highly competitive driving range, smart infotainment and tech specs, as well as an EV driving experience, all at an accessible price point.

The BYD Dolphin is priced slightly below the Hyundai Casper Electric, whilst the KRW 30 million Atto 3 costs just over KRW 3 million more than the Casper despite sitting in a segment above.