Chinese EVs win over some in South Korea, but Japan is proving to be a rougher road
BYD sold more than 20,000 vehicles in South Korea in the first nine months of the year, topping Toyota and Lexus combined, while it sold fewer than 4,000 in Japan. EVs made up roughly a quarter of new car sales in South Korea this year, versus 3% in Japan.
1. South Korea gains
BYD’s roughly $18,500 Dolphin attracted buyers in South Korea seeking cheaper, available EVs. One buyer said she chose it after being told delivery of a Hyundai Casper EV would take more than two years. BYD sold more than 20,000 vehicles in the country in the first nine months of the year, according to Carisyou data.
2. More brands enter
Geely’s Zeekr began taking orders for its 7X SUV in South Korea in June and plans to open up to 14 showrooms by year-end. Chery is expected to enter the market in 2027, while Xpeng is looking to build out its retail network.
3. Japan remains difficult
BYD sold fewer than 4,000 cars in Japan in the first nine months of the year, a 0.1% market share, though its sales have risen every year since it began selling there in 2023. It has more than 75 dealerships and plans to expand to 100. Foreign brands account for about 6% of Japanese passenger car sales, and drivers favor hybrids.
