Qian Zhan Wang·2025-11-05 07:40Core Insights - BYD is set to launch a new pure electric K-Car model named "RACCO" at the 2025 Tokyo Motor Show, with plans to enter the Japanese market in the summer of 2026 [2] - The K-Car segment accounts for 35%-40% of new car sales in Japan, with 2024 sales projected at 1.2021 million units, but pure electric vehicles currently represent only 2.1% of this market, indicating a significant opportunity for BYD [3] - BYD's entry into the Japanese market is seen as a strategic move to capitalize on the transition towards electric vehicles in the K-Car segment, which is currently dominated by Suzuki [3] Market Position and Strategy - Suzuki's president expressed optimism about the competition, noting that BYD's choice to adhere to Japan's light vehicle standards is welcomed, indicating a new competitive landscape [3] - BYD's Asia-Pacific automotive sales general manager stated that the primary competitors in Japan are other imported car manufacturers, not local Japanese companies [3] - BYD has a long-standing presence in Japan, having established a branch in Tokyo around 2001, but has only sold 7,123 vehicles in three years, highlighting the challenges faced in penetrating the market [3] Global Expansion and Performance - BYD's global strength is attributed to its leadership in the new energy vehicle sector, holding a 31.7% market share in China in 2022, significantly outperforming other brands [3] - The company has achieved remarkable growth in overseas sales, with a 132% year-on-year increase, totaling 701,600 units in the first three quarters of 2023, surpassing the total overseas sales for 2024 [6] - BYD's products are now available in 117 countries and regions, reflecting a strategic focus on key market breakthroughs and global network expansion [7]