Korea’s imported car market undergoes major transition to eco-friendly vehicles

The nation’s imported car market is entering a major transition toward the mass adoption of eco-friendly vehicles, driven by rapid sales growth from brands such as Tesla and Lexus, which have established strong identities in electric vehicles (EVs) and hybrid cars, respectively, according to data and industry officials on Friday. The trend is evidenced by the two carmakers’ sharp sales growth in Korea. According to data from the Korea Automobile Importers & Distributors Association (KAIDA), Tesla's sales soared 32.4 percent year-on-year to 26,569 between January and July. While Tesla ranked third in total auto sales during the same period, behind BMW Korea and Mercedes-Benz Korea, its rise poses a serious challenge to the German carmakers, as the U.S. EV maker led the market in electric vehicle sales. In July, Tesla rose to fame as the nation’s top-selling foreign carmaker, buoyed by strong demand for its Model Y electric SUV. Tesla sold 7,357 cars last month alone, up 12.2 percent from a year earlier, outpacing BMW Korea, which sold 6,490 vehicles during the same period. IndustryWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times