BEV sales in South Korea rise 48% in August YTD

Core Insights - Sales of battery electric vehicles (BEVs) in South Korea increased by over 48% to 142,456 units in the first eight months of 2025, representing almost 13% of total vehicle sales in the country [1][4] - The market is rebounding from a downturn, with August sales reaching 23,740 units, driven by new models, improved safety standards, government incentives, and price competition [2][4] - Domestic automakers accounted for 86,777 local BEV sales, nearly 61% of the segment, while imported models saw a 69% increase in sales, particularly from Chinese manufacturers [3][4] Sales Performance - BEV sales in the first eight months of 2025 were 142,456 units, up from 95,998 units in the same period last year [1] - Average monthly sales in 2025 reached 17,800 units, an increase from 12,240 units in 2024 [2] - August 2025 sales alone were 23,740 units, indicating a strong recovery in the market [2] Market Composition - Domestic automakers sold 86,777 BEVs, making up almost 61% of total sales, while imported models sold 55,679 units [3] - Chinese-made BEVs saw a significant increase, with sales rising by 69% to 42,932 units, including a 55% increase in Shanghai-made Teslas [3] - Popular domestic models include the Kia EV3, Ray EV, and Hyundai's Casper Electric [3] Future Outlook - Despite the increase in sales, the South Korean BEV market is still far from meeting the government's 2030 National Greenhouse Gas Reduction Target [4] - KAMA's chairman emphasized the need for developing the domestic BEV market to enhance competitiveness, suggesting incentives like a domestic production promotion tax system [4]