The Korea Automobile Importers and Distributors Association (KAIDA) released data on June 1 showing that among newly registered imported cars in Korea in April, Chinese-made cars overtook Japanese-made cars for the first time, ranking third with 2,023 units compared to Japan’s 1,974. The full ranking for the month was: European cars ranked first with 16,835 units, American cars second with 13,611, and Chinese and Japanese cars ranked third and fourth, accounting for 6% and 5.8% of the market, respectively.
Notably, all Chinese-made figures came from a single brand, BYD, while Japanese cars spanned three brands: Lexus (1,079 units), Toyota (829 units), and Honda (66 units). This means BYD overtook them with just one brand. Analysts noted that recent oil price hikes have boosted demand for electric vehicles, and Chinese EVs, which offer both competitive pricing and software-defined vehicle (SDV) features, are increasingly favored by Korean consumers, providing the market foundation for BYD’s rapid rise.