The battle for "No. 2" is heating up in Korea's imported electric vehicle market. With Tesla maintaining a firm lead on the back of the Model Y, legacy German brands BMW and Audi are locked in a tight race, while China's BYD, only in its second year in Korea, is close on their heels. Porsche and Volkswagen are also showing potential by sharply increasing sales from a year earlier.
According to the Korea Automobile Importers & Distributors Association (KAIDA) and Kaizuyu Data Research Institute on Dec. 9, Tesla sold a total of 55,598 units through November this year, sweeping the EV market. Sales grew after the new Model Y landed in Korea, averaging 6,950 units per month from June to October. In particular, September sales were 9,069 units. No imported car brand had ever surpassed 9,000 in monthly sales until then. Model Y sales that month were 7,383 units, and even the BMW 5 Series and Mercedes-Benz E-Class had never exceeded 7,000 in monthly sales.
BMW holds second place. BMW sold 5,316 electric vehicles through November this year. That is an 11% decrease from a year earlier (5,974 units), but it is still holding on to No. 2. The i5 (including M series), BMW's main electric model, added one more trim and sold 1,670 units (1,272 last year). A sharp drop in sales of the i4 and the iX3, which is being phased out, was the main reason for the decline. The i4, which sold 1,210 units through November last year, sold 622 units this year, and the iX3 fell from 1,666 to 808. BMW plans to boost sales by launching new models next year.
Audi, which greatly expanded its lineup this year, is chasing No. 2 BMW. Audi sold 4,352 electric vehicles in Korea through November this year. That is a 31% increase from the same period a year earlier (3,314 units). The increase was led by the Q4 e-tron (including Sportback), a compact electric SUV, which sold 2,982 units this year. The newly launched mid-size electric SUV Q6 e-tron (including Sportback) sold 1,040 units. The A6 e-tron, expected as the electric version of Audi's core model, posted a relatively modest 139 units this year.
What stands out is the rise of China's BYD. BYD sold a total of 3,791 units in Korea through November this year. The Atto 3, a small electric SUV, sold 2,671 units, and the mid-size SUV Sealion 7 sold 2,021 units. In particular, the Sealion 7 sold 680 units in November alone, making it the third best-selling imported electric vehicle after Tesla's Model Y and Model 3. It outpaced comparable models such as the Volvo XC60 and Polestar 4 within three months of launch.
Another feature of this year's imported EV market is the surge in sales of Porsche models priced over 100 million won. Porsche's sales this year totaled 3,116 units, up 240% from the same period last year (950 units). The newly launched electric SUV Macan sold 1,390 units, becoming a hit, and the Taycan, Porsche's first electric car, sold 1,726 units, up 88% from a year earlier (915 units). With the electric version of the Cayenne—Porsche's most popular model in Korea—set to debut next year, sales are expected to grow further.
Following Porsche are Volkswagen, Mercedes-Benz and Mini. Mercedes-Benz sold 4,506 electric vehicles in Korea last year, holding third place, but sales plunged over the past year. Mercedes-Benz sold only 1,655 units through October. The company plans to restore sales by pushing the electric version of the brand's flagship GLC next year.
An imported car industry official said, "Next year, with new models scheduled from Mercedes-Benz and other imported brands, competition in the EV market will become even fiercer."