South Korean media: Chinese-made cars shine brightly in the South Korean market!

On May 23, South Korea's Korea Economic Daily published an article stating that during the first quarter of this year, Chinese-made electric vehicles including Tesla, BYD, and Polestar demonstrated strong growth momentum in the South Korean automotive market. Tesla sold 29,640 units, surpassing BMW (19,368 units) to become the top-selling imported car brand.

In March alone, Tesla achieved sales of 11,130 units in South Korea, marking a year-on-year increase of 329.6%. During just the month of March, Model Y sold 6,749 units.

Except for the Cybertruck produced at Tesla’s Fremont, California factory and the Model S/X manufactured at its Texas plant, most Tesla vehicles sold in South Korea are produced at Tesla’s Shanghai factory in China.

Another Chinese electric vehicle manufacturer, BYD, sold 1,664 units in March, with a cumulative total of 3,968 units sold in the first quarter. Compared to only 10 units sold during the same period last year, this represents a dramatic surge in sales—likely driven by its relatively affordable pricing. Similarly, Polestar, a premium electric vehicle brand known for its "high cost-performance ratio," also posted impressive sales figures. In March, Polestar sold 684 units, up 122.8% year-on-year.

Driven by the strong performance of these imported electric vehicles, total car sales in South Korea reached approximately 165,000 units in March, among which eco-friendly vehicles accounted for 98,000 units—making up 59% of total sales.

In March, South Korea’s total automobile export value reached $637 million, a 2.2% increase compared to March of last year. The export volume amounted to 259,635 units, up 7.8% year-on-year.

The continued popularity of hybrid vehicles has fueled export growth. In March, exports of eco-friendly vehicles reached 98,040 units, a year-on-year increase of 42.6%.

Original article: toutiao.com/article/1865942124761226/

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