Electric vehicle giant Tesla experienced a remarkable surge in car registrations throughout South Korea during March, according to data released by market research firm Carisyou on Monday.
The company registered 11,134 vehicles in the country last month, representing a dramatic 330% increase compared to March of the previous year, the research firm reported.
The significant boost in registrations follows Tesla’s recent decision to reduce pricing on select Model Y and Model 3 electric vehicles produced at its Chinese manufacturing facilities. These price reductions have intensified competitive pressure among electric vehicle manufacturers operating in the South Korean market.
