Tesla Model Y tops imported car sales in H1 2024 in Korea

Tesla Model Y, the most popular electric vehicle (EV), has achieved first spot in imported car sales in South Korea in the first half of 2024. Data from market tracker Carisyou revealed that Tesla has now become the third-largest overseas car company after BMW and Mercedes-Benz.

The Model Y sold 10,041 units from the January-June window. It has quadrupled the sales compared to last year during the same period. BMW 5 series sold 10,024 units and Mercedes-Benz E-Class achieved 8,916 units. Tesla’s second best seller Model 3 has sold 7,026 units during H1 2024.

Tesla Model Y (Image Credit: Tesla)

It is found that the new sales are the result of the two recent price cuts in February and April. The company first reduced 2 million won ($1,450) to cope with EV subsidies slashed by the Korean government.

The second price cut of 2 million won was made in line with the global strategy and its current price stands at 53 million won.

Overall, BMW comes first with 34,933 imported units, 30,015 units of Mercedes-Benz, and Tesla at 17,380 units. Volvo and Lexus follow for fourth and fifth places with 7,185 and 6,421 units respectively. This is the first time Tesla entered the top three overseas car makers list in Korea.

(Source – TheInvestor)