Tesla’s vehicle registrations in South Korea jumped 330% in March compared to the previous year. The company registered 11,134 vehicles during the month, according to market researcher Carisyou. Aggressive price cuts on the Model Y and Model 3 drove this surge in sales. The Model Y Premium ranked as the top-selling imported car model in March, followed by variants of the Model 3.
Tesla’s performance helped drive overall imported-car registrations to a record 33,970 units. Total imported-car sales in South Korea rose approximately 34% to 35% year-over-year. These price reductions have intensified competition among electric vehicle manufacturers across the country.
This regional growth follows Tesla's overall Q1 2026 deliveries, which missed analyst expectations. The missed global targets had previously raised concerns regarding international demand.