Industry
Imported EV market shifts in Korea as Tesla, BYD gain ground and German trio slips
Tesla and China’s BYD are quickly increasing their presence in South Korea’s electric vehicle market. EVs accounted for 18 percent of the imported car market in 2024. Tesla sold about 60,000 EVs last year, while BYD sold 6,107 to enter the top ranks in a short period. German premium brands lagged, with BMW selling 5,821 units, Audi 4,427 and Porsche 3,626.
