Sales of imported vehicles in South Korea rose 34.6 percent in March to 33,970 units, driven by strong electric vehicle demand and more working days. Tesla dominated with 11,130 units sold. This marks key milestones in the market.
Sales of imported vehicles in South Korea increased 34.6 percent in March to 33,970 units from 25,229 a year earlier, according to the Korea Automobile Importers & Distributors Association (KAIDA). The rise was supported by more working days and robust demand for electric vehicles.
The three best-selling models were all from U.S. EV maker Tesla Inc.: Model Y, Model 3 Long Range, and Model 3. Tesla's sales more than quadrupled to 11,130 units from 2,591, marking the first time a single imported brand exceeded 10,000 units in a month. The China-made Model Y and Model 3 were sold at discounted prices.
BYD Korea Co., a unit of China's BYD Co., saw sales surge to 1,664 units from 10. The company began local operations in January last year, with first sales reported in March.
By powertrain, fully electric vehicles accounted for 47.8 percent of registrations, or 16,249 units, outselling hybrids at 42.9 percent for the first time. Gasoline models made up 8.7 percent and diesel 0.5 percent.
Three German automakers—Volkswagen Group Korea, BMW Group Korea, and Mercedes-Benz Korea—sold a combined 14,891 units, down 6.4 percent from 15,915 a year ago. German brands accounted for roughly 60 percent of total imported sales.
