DistantNews
Support us
🇰🇷 South Korea /Economy & Trade

BYD sales dip in Korea amid global supply crunch, European surge

From Hankyoreh · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • Chinese electric vehicle maker BYD saw its South Korean sales drop by nearly half in May compared to April, falling from fourth to seventh place among imported car sales.
  • BYD attributes the decline to global supply shortages, stating that demand exceeds supply in many countries, including South Korea.
  • Despite the domestic dip, BYD's global sales surged 80.7% year-on-year in May, with a significant increase in European sales, where it faces competition from EU tariffs and trade barriers.

BYD, the Chinese electric vehicle manufacturer that had been rapidly gaining ground in South Korea, experienced a significant drop in sales in May. The company sold 1,032 vehicles, a 49% decrease from April's 2,023 units, causing it to slip from fourth to seventh place in the overall imported car market.

BYD Korea attributed the decline to global supply constraints, noting that demand is currently outstripping supply in numerous markets, including South Korea. The company insists that the sales surge has not ended but is being hampered by delivery delays. While specific country allocation figures were not disclosed, the company's international sales have seen substantial growth.

Globally, BYD sold 376,990 vehicles in May, with 161,077 units (42.5%) sold outside China, marking an 80.7% increase compared to the previous year. This export-driven growth strategy is seen as a response to the slowing domestic market in China. The company's cumulative sales from January to May reached 1,405,039 units, with exports accounting for 43.7%.

There is a phenomenon where supply exceeds demand in many countries, including Korea.

— BYD KoreaExplaining the reason for the recent drop in sales in South Korea.

Europe has been a key market for BYD's export expansion. Despite facing potential EU tariffs of up to 45%, minimum pricing rules, and quotas, BYD leverages its integrated supply chain, including in-house battery production, to maintain cost competitiveness. In April alone, BYD's European sales jumped 114.5% year-on-year to 27,008 units, increasing its market share to 2.2% from 0.9% a year prior. This contrasts with a slight decrease in market share for Hyundai and Kia in the same period.

BYD Korea plans to participate in the 2026 Busan Mobility Show to strengthen communication with domestic consumers and emphasize its long-term commitment to the Korean market. The company aims to expand its service centers nationwide from 18 to 26 by the end of the year, seeking to overcome negative perceptions of Chinese electric vehicles.

Strengthening communication with domestic consumers and emphasizing long-term commitment and responsibility to the Korean market.

— BYD KoreaStating their intention for participating in the 2026 Busan Mobility Show.
DistantNews Editorial

Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog