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Imported car sales jump 37.6 percent in January on strong EV demand

Published: 04 Feb. 2026, 14:04 Updated: 04 Feb. 2026, 17:08

A Tesla model 3 is pictured inside a showroom in Taipei, Taiwan on July 31. [REUTERS/YONHAP]

Sales of imported vehicles in Korea jumped 37.6 percent in January from a year earlier, buoyed by strong demand for Tesla and BYD electric vehicle (EV) models, industry data showed Wednesday.

New registrations of imported cars rose to 20,960 units last month from 15,229 units a year earlier, according to the Korea Automobile Importers & Distributors Association (Kaida).

The three bestselling models in January were the Mercedes-Benz E 200 sedan, the BMW 520 sedan and the Tesla Model Y, the data showed.

Sales of Tesla vehicles surged to 1,966 units last month from just five a year earlier. BYD sales totaled 1,347 units last month, as BYD Korea, the Korean unit of China's BYD, began local operations in January last year, with sales first reported from March.

"Usually in January, customers tend to hold off on EV purchases because the government finalizes annual EV subsidies late in the month. But this year, they rushed to buy Tesla models regardless of subsidies due to competitive pricing," a KAIDA official said.

By fuel type, hybrid vehicles accounted for 66.6 percent of monthly sales with 13,949 units, followed by EVs at 21.1 percent, gasoline models at 11.6 percent and diesel cars at 0.7 percent.

Three German automakers -- Volkswagen Group Korea, BMW Group Korea and Mercedes-Benz Korea -- sold a combined 13,157 units in January, up 21.3 percent from 10,843 units a year earlier.

German brands accounted for about seven out of every 10 imported vehicles sold in Korea last month.

Yonhap