Tesla's popularity, led by cheaper China-made models, has pushed total imported car sales past 30,000 units in just two months.
According to the Korea Automobile Importers and Distributors Association (KAIDA) on the 22nd, newly registered personal imported passenger vehicles reached 30,517 units in January and February. This marks the fastest pace since related statistics began being compiled. Tesla was the best-selling imported car brand for personal use this year.
Tesla sold 7,065 units over the two months, accounting for 23.2% of the total. This more than tripled the 1,919 units sold during the same period last year.
The strong imported car sales are attributed to the combination of the EV price war sparked by Tesla and the Lee Jae-myung government's expanded electric vehicle subsidy policy implemented from early this year. On December 31 last year, Tesla cut the price of the Model 3 Performance by 9.4 million won from 69.39 million won to 59.99 million won, and reduced the Model Y Premium Rear-Wheel Drive (RWD) by 3 million won from 52.99 million won to 49.99 million won. The Model Y Premium Long Range was also lowered by 3.15 million won from 63.14 million won to 59.99 million won, significantly breaking through psychological price barriers.
The Model 3 and Model Y RWD are known to be produced at Tesla's Shanghai Gigafactory in China. Competing German and Japanese automakers, as well as domestic carmakers, are concerned that Tesla may be dumping excess inventory in neighboring Korea at low prices due to Chinese consumers' preference for domestic brands.
With buyers flocking in, many vehicles remain awaiting delivery due to administrative delays in EV subsidy processing. Considering the launch of new models such as the Model Y Long Body, China-made Tesla's momentum is expected to continue throughout the year.
Following Tesla in the rankings were BMW with 6,786 units, Mercedes-Benz with 5,905 units, and Lexus with 2,019 units. BYD, the Chinese brand in its second year in Korea, climbed to fifth place with 1,967 units.
