| Kia's electric sport utility vehicle EV3 (Kia) |
South Korea’s electric-vehicle market hit a milestone in August, with EVs accounting for nearly one in five cars sold, as new model launches and rising consumer demand fuel adoption.
A total of 23,269 battery-powered passenger cars were newly registered last month out of 126,787 vehicles sold nationwide, according to mobility tracker Carisyou. The 18.4 percent share marks the highest level since the firm began compiling data in 2020.
Imported EVs are gaining traction even faster. Registrations of foreign models reached 10,855 units in August, accounting for 39.7 percent of imported car sales — more than double the share recorded a year earlier, figures from the Korea Automobile Importers & Distributors Association show.
Strong domestic EV sales have been driven by a wave of new model launches this year.
Tesla’s face-lifted Model Y led the surge, with combined sales of all three trims surpassing 6,000 units in every month since the updated model launched in May.
Korea’s KG Mobility also reached an early milestone, with its electric pickup, the Musso EV, hitting its annual sales target of 6,000 units this month, just six months after its March launch. This achievement comes despite the pickup segment’s limited recognition in Korea.
An increase in affordable options has also supported growth. Hyundai Motor and Kia introduced compact EVs — Casper Electric and EV3 — last year, and these models have continued to lead the Hyundai Motor Group’s EV sales.
Monthly EV sales have posted year-on-year growth since April, bringing cumulative registrations between January and August to approximately 141,986 units, up 48.4 percent from the same period in 2024.
With EV sales exceeding 20,000 units monthly since May, industry observers expect annual EV sales in Korea to surpass 200,000 units for the first time.
However, they caution that government support remains crucial, as subsidies are being depleted faster than in previous years amid the surge in sales.
According to the Ministry of Land, Infrastructure and Transport, more than 70 percent of Korea’s EV subsidy budget had already been used by July, compared with 2024, when below 70 percent of the total budget was spent by year-end.
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