Tesla saw a dramatic increase in vehicle registrations in South Korea in March, with sales jumping 330% year-on-year to 11,134 vehicles, according to market researcher Carisyou.
The surge is largely attributed to recent price cuts on Tesla’s China-made Model Y and Model 3, which have intensified competition in the South Korean electric vehicle market.
The strong sales performance in South Korea reflects Tesla’s growing footprint in key Asian markets, even as global competition in the EV sector continues to heat up.