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Imported vehicle sales surge 34.6% in March driven by EV demand

Published: 03 Apr. 2026, 19:59

A Tesla EV charges at a charging station in Seoul on Sept. 20, 2023. [YONHAP]

Sales of imported vehicles in Korea rose 34.6 percent in March from a year earlier, supported by more working days and robust demand for electric vehicles, industry data showed Friday.

New registrations increased to 33,970 units last month from 25,229 a year earlier, according to the Korea Automobile Importers & Distributors Association (KAIDA).

The three best-selling models in March were all from U.S. EV maker Tesla: the Model Y, Model 3 Long Range and Model 3. The Model 3 and Model Y, which are manufactured in China, are being sold at discounted prices in Korea.

Tesla's sales more than quadrupled to 11,130 units last month from 2,591 a year earlier.

This marks the first time a single imported brand has sold more than 10,000 units in a month in Korea's passenger vehicle market.

Sales at BYD Korea surged to 1,664 units from 10 over the same period. The unit of China's BYD began local operations in January last year, with sales first reported in March.

By powertrain, fully electric vehicles accounted for 47.8 percent of total registrations, or 16,249 units, followed by hybrids at 42.9 percent, gasoline models at 8.7 percent and diesel vehicles at 0.5 percent.

This also marks the first time all-electric models have outsold hybrid models in monthly sales in the imported vehicle market.

Three German automakers — Volkswagen Group Korea, BMW Group Korea and Mercedes-Benz Korea — sold a combined 14,891 units in March, down 6.4 percent from 15,915 units a year earlier.

German brands accounted for roughly 60 percent of imported vehicle sales in Korea last month.

Yonhap