April new registrations of imported cars surge 58%…Electric vehicles account for over half, driven by 'Tesla effect'

*This content was translated by AI.

In April, the domestic imported car market recorded its highest growth rate on record, buoyed by strong electric vehicle sales.

According to data compiled by the Korea Association of Imported Automobiles (KAIDA), new registrations of imported passenger cars in April totaled 33,993 units, a 58.1% increase compared to the same month last year. Cumulative registrations from January to April this year reached 116,113 units, up 41.3% from the same period last year.

By fuel type, electric vehicles (BEVs) accounted for 18,319 units, representing 53.9% of all imported cars and surpassing the half mark. Hybrids accounted for 37.6%, while gasoline (8.0%) and diesel (0.5%) remained in single digits. This indicates that eco-friendly vehicles have become the mainstay of the market.

By brand, Tesla sold 13,190 units, securing the top position. The best-selling models were also Tesla's: the Model Y Premium (9,328 units) and the Model Y Premium Long Range (1,481 units) ranked in the top spots. BMW (6,658 units) and Mercedes-Benz (4,796 units) followed in second and third place, respectively.

By country, European brands led with 16,385 units (48.2%), followed by American brands with 13,611 units (40.0%). Chinese brands, with 2,023 units (6.0%), narrowly surpassed Japanese brands, which recorded 1,974 units (5.8%).

By purchase type, individual buyers accounted for 22,089 units (65.0%), significantly outpacing corporate buyers, who purchased 11,904 units (35.0%). Individual purchases were concentrated in the capital region, including Gyeonggi (33.6%), Seoul (18.4%), and Incheon (7.8%), while corporate purchases were led by Busan (31.9%), Incheon (29.0%), and Gyeongnam (17.4%).

Vehicles under 2,000cc in the compact and mid-size categories, along with electric vehicles and other classifications, accounted for more than 80% of total registrations, indicating that consumer choices are increasingly focused on efficiency and eco-friendliness.

Jung Yoon-young, vice president of the Korea Association of Imported Automobiles, stated, "While April's market results varied by brand, the strong sales of electric vehicles and the impact of new models from major brands allowed the market to maintain the same level of activity as the previous month."

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*This content was translated by AI.