Key Moments
- Tesla registrations in South Korea jumped 330% year-on-year in March to 11,134 vehicles, according to Carisyou.
- The gain reflects a sharp acceleration in demand compared to the same month a year earlier.
- Recent price reductions on China-made Model Y and Model 3 vehicles have intensified EV price competition in the Korean market.
South Korea Registrations Jump in March
SEOUL, April 6 (Reuters) – Tesla recorded a steep increase in vehicle registrations in South Korea in March, with the total rising 330% from a year earlier to 11,134 units, market research firm Carisyou said on Monday.
| Metric | March (Latest) | Year-on-Year Change |
|---|---|---|
| Tesla registrations in South Korea | 11,134 vehicles | 330% |
Price Cuts on China-made Models Fuel Competition
The surge in registrations follows Tesla’s decision to lower prices on certain Model Y and Model 3 electric vehicles produced in China. These reductions have triggered heightened price competition among electric vehicle manufacturers in the South Korean market.
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