January Imported EV Sales Surge Sevenfold Led by Tesla and BYD
Creatrip Team
a month ago
Imported passenger car registrations in South Korea rose 37.6% year‑on‑year in January to 20,960 units, driven by a nearly sevenfold jump in electric vehicle (EV) sales. Price cuts and maker subsidies helped Tesla and BYD lead the recovery: Tesla sold 1,966 units after Model 3 and Model Y price reductions, while BYD sold 1,347 units using its own subsidy strategy. Conventional internal combustion vehicles continued to decline (gasoline down ~13.9%, diesel down over 30%), with hybrids remaining steady but EVs posting the fastest growth. By brand, BMW (6,270 units, 29.9%) and Mercedes‑Benz (5,121 units, 24.4%) topped registrations, followed by Tesla, Lexus, BYD, Volvo, and Audi. The Korea Imported Automobile Association credited EV sales growth and new-brand effects for the monthly increase.
