Title : South Korea July 2020
link : South Korea July 2020
South Korea July 2020
Tesla Model 3 leads in Korea
The South Korean plugin market is showing positive numbers (+7% YoY), with over 22.000 units, with the PEV share now at 2%.
This good performance is mostly due to the Tesla Model 3, that stole the Hyundai Kona EV leadership last March, being the new Best Selling EV from then on, although since then its market share has decreased from 45% in March, to the current 31%.
Besides being removed from the throne, the Korean crossover saw its sales drop 45% YoY, with the Czech Hyundai factory now making units for Europe, Hyundai now has more space to allocate volume to its domestic market, so if the Kona EV numbers do not increase as the year progresses, it will mean that Hyundai has a demand problem. At home.
Elsewhere, the Kia Niro EV is the new 3rd placed, having surpassed the Chevrolet Bolt.
Finally, the Tesla sports sedan is not the only foreigner to shine, as the BMW 530e is #5 and is closing in on the #4 Chevy Bolt.
A final mention to the Hyundai Nexo Fuel Cell model, a model that is seeing its registrations jump this year, to 3.312 units, making it a success story in Korea, a unique event for a FCEV, allowing the technology to have 0,31% share of the total market, a world best for Fuel Cells.
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