The Tesla Model 3 surpassed the Mercedes-Benz E300 4Matic and BMW 520 to become the best-selling imported vehicle in South Korea last month. (Image courtesy of Tesla)
SEOUL, May 9 (Korea Bizwire) – The Tesla Model 3 surpassed the Mercedes-Benz E300 4Matic and BMW 520 to become the best-selling imported vehicle in South Korea last month, according to data from the Korea Automobile Importers and Distributors Association (KAIDA).
Tesla’s Model 3 Highland topped the registration charts as the single most popular imported model in April. The Mercedes E300 4Matic and BMW 520, typically the top two sellers in the import market, followed with 1,681 and 979 units registered, respectively.
The Model 3 is an updated version of Tesla’s pioneering electric sedan first launched globally in 2017. It went on sale in Europe last August before arriving in South Korea this past month. Two variants are offered – a long-range model with a nickel-cobalt-manganese lithium-ion battery, and a rear-wheel-drive model using a lithium iron phosphate (LFP) battery pack. Both are produced at Tesla’s Gigafactory in Shanghai, China.
Overall imported vehicle registrations in April reached 21,560 units, a 3.1% increase from 20,910 a year earlier, though down 14.7% from 25,263 in March.
By brand, Mercedes-Benz led with 6,638 registrations, followed by BMW at 5,750, Tesla at 1,722, Volvo at 1,210, Lexus at 920, Toyota at 893, Audi at 770, Mini at 676, Porsche at 620, and Volkswagen at 566.
Other brands included Ford with 350 units, Jeep at 281, Land Rover at 268, Lincoln at 200, Honda at 167, Peugeot at 101, Chevrolet at 85, Polestar at 83, Lamborghini at 60, Cadillac at 50, GMC at 36, Bentley at 24, Maserati at 23, and Rolls-Royce at 22.
Categorized by engine displacement, vehicles under 2,000cc accounted for 11,212 units or 52% of the total. The 2,000-3,000cc segment saw 5,600 units (26%), while the 3,000-4,000cc range had 763 units (3.5%), and over 4,000cc was 359 units (1.7%). Electric vehicles were included in the “other” displacement category with 3,626 units (16.8%).
European cars dominated with 16,856 units (78.2% share), followed by the United States at 2,724 (12.6%), and Japan at 1,980 (9.2%). By fuel type, hybrid models including mild hybrids numbered 11,177 (51.8%), gasoline at 5,536 (25.7%), electric at 3,626 (16.8%), diesel at 656 (3%), and plug-in hybrids at 565 (2.6%).
Individual purchases accounted for 13,656 units or 63.3% of total imports in April, while corporate purchases made up 7,904 units (36.7%). The regional breakdown for individual purchases was Gyeonggi Province at 4,367 (32%), Seoul at 2,848 (20.9%), and Incheon at 764 (5.6%). Corporate purchases were highest in Busan at 2,551 units (32.2%), followed by Incheon at 2,099 (26.6%), and South Gyeongsang Province at 1,226 (15.5%).
Kevin Lee (kevinlee@koreabizwire.com)
