Summary
- Tesla set to achieve over 30,000 vehicle sales in South Korea in 2024
- Has sold 28,498 vehicles in the country in the first 11 months of the year
- Kia leads the Korean EV market with 34,384 units sold
- Tesla sells Model 3, Model Y, Model S, and Model X in South Korea
- Tesla appoints Korean Olympic Shooter Kim Ye-ji as brand ambassador
Article
Tesla is on track to surpass an important milestone in electric vehicle sales in South Korea, with expectations to achieve over 30,000 vehicle sales in 2024. The company has sold 28,498 vehicles in the country in the first 11 months of the year, and with an average monthly sales of 2,500 units, the target is within reach. This growth marks a significant increase for Tesla in the Korean market, as the company has not surpassed 20,000 units in previous years. Local automaker Kia currently leads the Korean EV market with 34,384 units sold through November, with Hyundai trailing Tesla in EV sales.
Tesla currently sells the Model 3, Model Y, Model S, and Model X in South Korea, with plans to potentially introduce the Cybertruck in the future. The Korean models are built at the company’s factory in Shanghai, China, with the Model Y being the top imported vehicle in the country in the first half of the year. The country also has a significant number of investors in Tesla and owners of its EVs, with over 1,000 Tesla owners participating in a coordinated light show using their vehicles in April.
In a unique move, Tesla appointed its first-ever brand ambassador in South Korea, signing Korean Olympic Shooter Kim Ye-ji after her success in the Paris Olympics and upcoming film role. This decision marks a departure from Tesla’s usual approach of minimal advertising expenses. The company has remained lean on advertising over the years, but the appointment of an ambassador indicates a shift in strategy. Additionally, Tesla has rolled out a 0% interest financing offer for the Model Y RWD and AWD in Korea, further increasing its presence in the market.
The potential for Tesla to surpass 30,000 vehicle sales in South Korea in 2024 highlights the company’s continued growth and success in the EV market. With the introduction of various models and potential future offerings like the Cybertruck, Tesla is poised to further solidify its position in the Korean market. The appointment of a brand ambassador and the unique marketing strategies employed by Tesla demonstrate the company’s commitment to expanding its presence in South Korea and attracting new customers. The 0% interest financing offer for the Model Y RWD and AWD provides customers with additional incentives to purchase Tesla vehicles, further driving sales and market penetration.
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