South Korea's electric vehicle market is in a cold wave, and Tesla's sales are **80%!
New ** expert Mang Jiuchen.
In South Korea, the EV market seems to be in for a cold winter, with sales falling by a full 80% in January! This begs the question, what is the reason for this once hot market to fall into such a downturn?
First, let's look at the data. According to Yonhap News Agency, the number of new registrations of imported cars in South Korea reached 130.83 million units, a staggering decrease of 194%。The decline was attributed by the Korea Importers Association to a variety of reasons, including the traditional off-season, uncertainty over the EV subsidy package, postponement of factory shipments, and insufficient inventory for some brands. There are opinions that economic problems such as high interest rates have also had a big impact on sales.
What is even more surprising is that Tesla, which was once in the limelight, sold only one unit in South Korea in January, which is even less than Rolls-Royce (9 units) and Lamborghini (7 units). This begs the question, what caused Tesla's sales in the South Korean market to be so dismal?
The Bloomberg report notes that a range of factors are weighing on demand for electric vehicles, from safety concerns to lack of charging infrastructure. In terms of safety, a survey by the Korea Transportation Safety Agency shows that many drivers are worried that electric vehicles may be charged or in car accidents**, which directly affects sales. According to the Korea Automobile Manufacturers Association, overall sales of electric vehicles fell by 01%。
In addition, Korean consumers will also take into account the current shortage of charging piles when purchasing electric vehicles. The energy news network "oilprice" reported that the lack of charging piles has become a major pain point in car purchases, further inhibiting consumers' desire to buy cars.
To explain the decline in EV sales in January, industry analysts pointed out that consumers may be waiting for the EV subsidy policy that is usually announced in February. South Korea's Ministry of Environment's subsidy policy for electric vehicles is generally announced in January and February, and consumers actually receive the subsidy in February and March. As a result, sales of electric vehicles such as Tesla are bound to be sluggish in the January-February period.
However, after the release of the latest electric vehicle subsidy policy from the Ministry of Environment of South Korea, some of Tesla's models will be greatly affected. Tesla's Model Y, which was launched last year, was priced at 56.99 million won in South Korea, and sales reached 1 million last year38.85 million units. However, this year, only electric vehicles under 55 million won will be eligible for the 100% subsidy, which means that consumers who buy Teslas can only receive a 50% subsidy.
The big cold in the electric vehicle market makes people think about whether South Korea's electric vehicles can be revitalized in the future, and it depends on the changes in the policy and market. However, in this uncertain moment, how Tesla will adapt to this new policy has become the focus of attention in the industry. Stay tuned!
At this time full of uncertainties, how Tesla will adapt to this new policy has become the focus of attention in the industry. Stay tuned!
While people are worried about the prospects of the electric vehicle market, some industry observers believe that this may be a necessary adjustment period and an opportunity for the electric vehicle industry to develop more healthily. First of all, the upcoming announcement of the EV subsidy policy may be a good antidote to the market and stimulate more consumers to buy cars. Tesla and other manufacturers are also expected to adjust product pricing to adapt to the new policy and provide consumers with more competitive options.
On the other hand, safety concerns also remind EV manufacturers to value product quality and user experience. Brands such as Tesla may need to change the current state of sales by winning consumer trust through technological innovation and more comprehensive safety measures.
For consumers, when considering the purchase of an electric vehicle, it is necessary to pay attention not only to policy changes, but also to the vehicle**, performance, safety and charging infrastructure. As competition in the EV market continues to intensify, consumers are expected to enjoy more benefits and options in the future.
Overall, the sharp decline in South Korea's electric vehicle market in January was not a doomsday prediction, but an inevitable stage of industrial development. Driven by both policy and market, it is believed that the electric vehicle industry will gradually usher in a new spring. As a leader in this transformation, Tesla has a wealth of technology and innovation capabilities, and we believe that they can meet the challenge, inject more vitality into the electric vehicle market, and bring consumers a better car experience. Whether it is a cold January or the upcoming February, we are looking forward to the vigorous development of the electric vehicle market and bring us more surprises. Let's wait and see the next high point in the electric vehicle industry!