Korean Media: Tesla's Sales in South Korea Surge 330% in March!
On April 7, Korean media outlet News1 published an article stating that Tesla's sales in South Korea surged 330% year-on-year in March.
Analysts believe the sharp increase in Tesla's sales in South Korea is due to the company's significant price reductions, aimed at competing with Chinese rivals such as BYD.
In March this year, Tesla sold a total of 11,134 vehicles in South Korea, marking a 330% increase compared to the same period last year.
This surge was driven by substantial price cuts on flagship models Model Y and Model 3, enabling them to better compete with both Chinese and domestic South Korean rivals.
The analysts emphasize that this remarkable growth is significant, as it demonstrates that even amid intensified competition and uneven global demand for electric vehicles, Tesla can still secure market share through pricing advantages.
With this performance, Tesla sold 20,964 vehicles in South Korea during the first quarter of this year, capturing a market share of 25.53%. As a result, Tesla has now become the top-selling imported car brand in South Korea—its first time achieving the top spot in a single quarter since entering the South Korean market in 2017.
Consequently, German automakers BMW and Mercedes-Benz, who have long alternated at the top of South Korea’s imported car rankings, are feeling increasingly anxious.
Original source: toutiao.com/article/1861811602425033/
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