Tesla sales in South Korea increase 5X in 2020

Tesla vehicles are gaining in popularity in South Korea, with the automaker registering more than five times as many sales in 2020 as it did in the previous year.

In a regulatory filing issued Thursday, Tesla revealed it earned USD$640 million (CAD$801 million) in 2020, up a staggering 295% from a year earlier.

The automaker’s net income was even more impressive, up more than 507% to USD$7.06 million (CAD$8.8 million).

The impressive figures were thanks to a more than five-fold increase in sales. According to data from the local Carisyou Data Lab, Tesla sold 11,826 vehicles in the 12-month period, compared to just 2,340 in the previous year.

Those numbers should increase even more in 2021 with the introduction of the Model Y in South Korea. The first batch of electric SUVs were recently spotted at Tesla’s export pier in San Francisco, and should arrive in the country early next month.

Source: Yonhap News

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