Tesla Model Y Becomes 'First Ever' Best-Selling Vehicle in South Korea; Elon Musk Cheers, "Korea is Awesome"

*This content was translated by AI.

Tesla, the U.S. electric vehicle (EV) manufacturer, has seen its mid-size sports utility vehicle (SUV), the "Model Y," top the monthly sales chart in South Korea's automotive market, surpassing domestic car brands. This marks the first time a single imported model has become the overall best-selling car in the domestic market, which has long been dominated by Hyundai Motor and Kia.

According to the latest statistics from the Korea Import Automobile Association and Kaiyu Data Research Institute, 8,762 Tesla Model Y units were newly registered in the domestic market last month. This figure is approximately 900 units higher than the previous domestic market leader, the Kia Sorento (7,836 units). It also significantly surpassed the Hyeon Dae-cha-ui (CEO) sedan Grandeur (5,183 units). As a result, the Model Y has become the number one selling vehicle in South Korea across all categories, including internal combustion engine vehicles, institutional investors, HYBE's Lee, and electric vehicles.

In response to this record, Tesla CEO Elon Musk also reacted. Musk posted on his social media platform X (formerly Twitter) with the message "Korea is Awesome" alongside a South Korean flag emoji. The post attracted global attention from netizens, recording tens of millions of views.

Industry experts evaluate the Model Y's sales as a pivotal event that has reshaped the landscape of South Korea's EV market. Even amid concerns of a temporary slowdown in EV demand, it is analyzed that the price reduction strategy for the rear-wheel drive (RWD) Model Y produced at Shanghai's Gigafactory drove purchases among domestic consumers. The vehicle's price competitiveness, allowing buyers to purchase it in the 40th million won range with subsidies applied, is considered a key factor.

Tesla's sales performance is also noteworthy. Tesla sold 10,866 units in South Korea last month, maintaining its position as the top-selling imported car brand for four consecutive months. This figure exceeds the combined sales of BMW (6,555 units) and Mercedes-Benz (3,553 units). Based on cumulative sales from January to May this year, one out of every three registered imported cars in South Korea is a Tesla, solidifying its dominant position.

An executive from the domestic automotive industry stated, "Tesla's software competitiveness and cost-performance strategy are driving explosive reactions among young consumers in their 20s and 30s." He added, "Hyundai Motor and Kia, which have long dominated the domestic market, will likely become busy formulating countermeasures, such as rapidly expanding their new EV lineup with improved cost-performance."

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*This content was translated by AI.