Tesla continues dropping prices in South Korea

For the second consecutive month, Tesla has dropped the prices on its EVs in South Korea, Reuters reports citing a representative of the U.S. carmaker’s regional branch.

For instance, the entry-level Model 3 RWD sedan now starts at 59.9 million Korean Won, 5% off the January price. The Model Y Performance sells for 82.7 million KRW, down nearly 13% from the last month price of 94.7 million. Depending on their chosen specification, buyers can expect savings from 3.5 to 12.6 million KRW.

In China, where the North American corporation pursues the same aggressive policy, the price drop has already boosted the sales substantially – from 55,976 locally-assembled Tesla EVs in December 2022 to 66,051 in January 2023 (+18%). Year-on-year growth for this month is smaller, but still noticeable at 10%.