Only one sale
If Tesla has gone through very difficult periods in recent years, things are much better for it today. In fact, the American firm even made a hit by being the one that sold the most cars in the world last year, although it was then overtaken by its Chinese rival BYD. That did not prevent Elon Musk’s company from breaking its own sales record, having sold more than 1.8 million cars worldwide. A success that apparently continued in January, when Tesla plans to sell 2.3 million vehicles worldwide this year. In January, however, the reality in South Korea was quite different. In this Asian country, Elon Musk and his team managed to sell only one car. Yes, you read that right: only one. And to be precise, it was a Model Y, the exact version of which is unknown. But what explains this more than a disappointing number? We will explain everything to you!
To celebrate the further opening of our network to all EVs, EVs from other manufacturers will receive their first Supercharging session for free until January 6, 2024.
Available in 18 countries (must use credit card in Tesla app) ⚡️
— Tesla Europe and Middle East (@teslaeurope) December 31, 2023
The reason is known
First, let’s look at the numbers. As of December 2023, Tesla has sold 1,022 cars in the South Korean market, a result considered normal. However, in January, that figure dropped sharply to just 1,021 sales. The main reason lies in the termination of state incentives. The 2023 incentives ended in December, but the 2024 incentives will return in February. Therefore, motorists are ready to wait a month to take advantage of the best purchase conditions. In addition, South Korea plans to significantly reduce tax incentives for the purchase of electric vehicles equipped with batteries with low energy density. This decision may seem strange, but it has a clear purpose: to hurt Chinese battery manufacturers. And it is not for nothing that Chinese companies are currently the main manufacturers of affordable batteries in the world. And this does not please Korea, where there are also several companies.
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Source: Auto Plus
Robert is an experienced journalist who has been covering the automobile industry for over a decade. He has a deep understanding of the latest technologies and trends in the industry and is known for his thorough and in-depth reporting.