Tesla led growth as imported vehicle registrations outpaced domestic automakers amid new government EV incentives.
South Korea’s imported light passenger vehicle sales rose 37% year-over-year to 38,059 units in June, driven by strong demand for battery electric and hybrid models. Tesla accounted for most of the growth, with deliveries nearly tripling to 56,139 units in the first half of 2026, securing a 30% market share.
Import sales surged 33% to 184,032 units in the first six months, while domestic automakers saw a 3% decline in combined sales. The shift follows the introduction of a new points-based EV subsidy system, replacing prior range- and efficiency-based criteria.
The government’s updated incentives now consider manufacturers’ technological contributions, supply chain integration, and compliance with environmental and safety standards. Tesla recently faced criticism for raising prices shortly after qualifying for the new subsidies.