BYD to double South Korea sales network in challenge to Hyundai and Kia
BYD plans to increase its sales network in South Korea, a car market dominated by local producers Hyundai Motor and Kia Corp, as it pushes for more deliveries outside its home stronghold of China.
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'We will increase our sales network to 30 by the end of this year from 15 to meet demand from Korean consumers,' Liu Xueliang, the general manager of BYD's Asia-Pacific auto sales division, said at the Seoul Mobility Show in Ilsan city on Thursday.
BYD has not been in the South Korean market for very long. It only debuted its passenger brand of cars in January when it officially launched its Atto 3 electric SUV. While the Chinese auto giant is known for its aggressive marketing and pricing strategies, it is up against strong competition from incumbents. Hyundai and Kia sold some 1.2 million cars in South Korea last year for a 75 per cent market share.
BYD introduced its Seal mid-sized sedan at the auto show, with a price starting from 47.5 million won (US$32,400), excluding subsidies. BYD's booth at the Seoul Mobility Show was one of the largest. It also showcased a range of its other models, displaying a total of six vehicles.
The Shenzhen-based carmaker has enjoyed a robust start to 2025, with sales up 58 per cent in the first quarter versus the same period of last year.
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Over the course of the past month, BYD has delivered a series of product releases that have generated a huge amount of buzz, including smart driving technology for most of its models at no extra cost and an ultra-fast charging system that can add 400km of range in just five minutes.
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