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Why did this country shun Tesla ?

© Tesla

2023 was a very good year for Tesla. The American manufacturer saw its deliveries increase by 38% with a production volume of 1.8 million electric vehicles despite difficult macroeconomic conditions. With 1.23 million models sold in 2023, the Tesla Model Y was the best-selling car in the world last year.

Despite a price increase expected in the coming weeks, Tesla should continue this good momentum: the company plans to sell 2.3 million cars during this new year. But already, a dark cloud has appeared in the manufacturer's sky in January 2024. In South Korea, Tesla only sold one Model Y last month. A result that never pleases. Why did South Korea shun Tesla so much ?

Only one Tesla car sold in South Korea in January 2024

To begin with, the automotive market is expecting a disappointing 2024. Electric cars are not exempt from these gloomy predictions. But that doesn't explain why Tesla only sold one car in South Korea. It was a Model Y, to be precise.

The policy pursued by the Korean government has nothing to do with it. Government incentives for electric cars ended in December 2023 and resume this February. Therefore, January is not the ideal time to buy a vehicle in South Korea. In addition, the government wants to drastically reduce the tax credits granted for the purchase of an electric car equipped with a low energy density battery. South Korea is fighting China, a major manufacturer of these batteries, and Tesla is ultimately a collateral victim of this rivalry.

Let us also point out that Tesla is established in China and, therefore, the American manufacturer has bad press in South Korea. For many Korean drivers, Elon Musk's company is Chinese, which seriously harms Tesla's image. However, its Model Y was one of Tesla's best sellers in South Korea in 2023.

But the next few months should be less catastrophic than January 2024 in South Korea. If Tesla does not count on the Asian country to break records, selling only one vehicle in a month remains a bitter failure.

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Teilor Stone

By Teilor Stone

Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining Thesaxon , Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my teilor@nizhtimes.com 1-800-268-7116