Tesla grabs 43% of all EV subsidies in Korea as sales increase at exponential rate

Tesla is proving to be hugely popular in South Korea as sales have seen a massive increase recently.

According to data from the Korea Automobiles Manufacturers’ Association (KAMA), Tesla sold 7,080 units from January to June in Korea. When compared to the same period in 2019, the automaker sold just 417.

That represents a staggering 1,588% increase, with the Model 3 being the top seller with 6,841 units. The Model X was next with 126 units and the Model S rounding it out at 113 units.

ModelUnits sold
Long Range Model 34,528
Standard Range Plus Model 31,877
Performance Model 3436
Model X126
Model S113

With the record sales numbers, Tesla vehicles accounted for 43% of the available subsidies for electric passenger cars, worth about ₩90 billion won ($100 million CAD), the most of any automaker.

Hyundai was second with about ₩64 billion won ($71 million CAD), with Kia accounting for the third most subsidies at ₩30 billion won ($33 million CAD).

Overall EV sales in Korea, which includes passenger cars, trucks, and vans increased 23% to 22,267 units from the same period in 2019.

Tesla Hong Kong

Featured image via JEB Custom Projects
h/t [Business Korea]

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