3 out of 10 Imported Cars Sold in First Half Were Teslas…192% Growth

3 out of 10 Imported Cars Sold in First Half Were Teslas…192% Growth

Total imported car registrations in June increased by 37% from last year…EVs account for 51%

Electric vehicle brand Tesla recorded a market share of over 30% among imported cars in the domestic market in the first half of this year.

According to data compiled by the Korea Automobile Importers & Distributors Association on the 3rd, the cumulative number of new imported passenger car registrations from January to June was 184,032 units, an increase of 33.2% compared to the same period last year (138,120 units).

Of these, Tesla recorded 56,139 units, accounting for 30.5% of the total, securing the top spot. In the first half of last year, Tesla's market share was 13.9%, ranking third after BMW and Mercedes-Benz, but sales increased by 192%, propelling it to the lead.

BMW ranked second with 39,150 units (21.3%), and Mercedes-Benz ranked third with 29,776 units (16.2%). Both brands saw their market share drop by more than 5 percentage points.

Chinese EV manufacturer BYD, which entered the Korean market last year, ranked fourth with 11,675 units (6.3%). This was followed by Lexus with 7,819 units (4.3%), Volvo with 7,470 units (4.1%), Audi with 7,337 units (4.0%), Toyota with 5,187 units (2.8%), Porsche with 4,322 units (2.4%), and Mini with 4,091 units (2.2%).

New imported passenger car registrations in June totaled 38,059 units, an increase of 27.5% from 29,860 units in May and 37.0% from 27,779 units in the same period last year.

Registrations by brand in June were: Tesla 11,119 units, BMW 6,569 units, Mercedes-Benz 5,565 units, BYD 4,652 units, Audi 1,772 units, Lexus 1,694 units, Volvo 1,679 units, Toyota 1,401 units, Mini 836 units, Porsche 716 units, Volkswagen 602 units, Polestar 433 units, Land Rover 426 units, Ford 74 units, and others.

By country, the order was Europe with 18,820 units (49.4%), the United States with 11,445 units (30.1%), China with 4,652 units (12.2%), and Japan with 3,142 units (8.3%).

By fuel type, electric vehicles accounted for more than half with 19,453 units (51.1%), followed by hybrids with 15,125 units (39.7%). Gasoline (3,211 units, 8.4%) and diesel (270 units, 0.7%) followed.

By purchase type, individuals accounted for 27,110 units (71.2%), and corporations for 10,949 units (28.8%).

Jeong Yoon-young, Vice President of the Korea Automobile Importers & Distributors Association, stated, "New imported passenger car registrations in June increased compared to the previous month due to securing supplies by some brands and the new car effect."

The best-selling models in June were Tesla Model Y L (5,155 units), Tesla Model Y Premium (3,318 units), and BYD Dolphin (2,747 units), in that order.

The Tesla Model Y, which sold a total of 9,188 units including the Premium Long Range, surpassed Kia[000270] Sorento to become the top seller in the domestic new car market, encompassing both domestic and imported cars, starting from May.