China's BYD to establish used car import and distribution company in South Korea

BYD, a Chinese company that is the world's number one electric vehicle manufacturer and recently entered the Korean domestic market, has also established a new used car import and distribution company in Korea.
According to the automotive industry on the 16th, BYD recently established an automobile import and sales company called "BYD Korea Automotive Co., Ltd."
The company, which operates as a separate entity from BYD Korea, will be responsible for importing, distributing, selling and brokering used cars. BYD Korea will be in charge of new car sales, while BYD Korea Auto will be in charge of used car sales and distribution.
The ATTO3, which BYD released earlier this year, is priced at just under 30 million won (US$30,000), and if you import a used car from China, it will be sold at a lower price.
Used cars in China are oversupplied, with inventory days increasing and prices dropping. According to the China Automobile Dealers Association, the average price of used cars in China as of November last year was
The price is currently on a downward trend at 63,900 renminbi (approximately 1.3 million yen). Meanwhile, it has been about two months since BYD Korea entered the domestic passenger car market, but there have been delays in the calculation of subsidies and individual
BYD is struggling to make ends meet, facing various negative factors, including the risk of information leaks. In this situation, it has been unable to even execute on one of its strategies to expand its market share in Korea, which was to enter the rental car market.
I realized that...