BYD’s Atto 3 overtakes Tesla’s Model Y as best-selling EV in South Korea

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BYD’s Atto 3 overtakes Tesla’s Model Y as best-selling EV in South Korea - Korea Economic Daily

Quick Summary:

China’s BYD Co.has dethroned Tesla Inc.in South Korea, with its compact sport utility vehicle, the BYD Atto 3, becoming the best-selling imported electric vehicle last month – a symbolic breakthrough for the world’s largest EV maker as it pushes deeper into global markets.

That makes it nearly 20 million won cheaper than the Tesla Model Y – a gap that industry officials say is hard for consumers to ignore.“The strong April numbers reflect both pent-up deliveries and the temporary slowdown in Tesla sales ahead of its refreshed Model Y Juniper release,” said an executive at a foreign car brand, noting that buyers have been holding off for updated models.

According to the Korea Automobile Importers & Distributors Association (KAIDA) on Thursday, BYD sold 543 units of the Atto 3 in April, surpassing Tesla’s long-dominant Model Y Long Range, which sold 533 units, and Model 3 Long Range’s 350 vehicle sales.