Tesla registered 12,372 new cars in South Korea in September 2026, more than BMW (6,066) and Mercedes-Benz (5,477) put together. That gave Tesla 35.45% of all imported passenger car registrations for the month, and it came just as EV subsidy money in major regions was running low.
Top imported brands in South Korea, September 2026
| Rank | Brand | Registrations |
|---|---|---|
| 1 | Tesla | 12,372 |
| 2 | BMW | 6,066 |
| 3 | Mercedes-Benz | 5,477 |
| 4 | BYD | 2,614 |
| 5 | Volvo | 1,414 |
| 6 | Lexus | 1,064 |
BMW and Mercedes-Benz together reached 11,543 units, 829 fewer than Tesla. Tesla's total rose 36.4% year on year and 19.0% from August, while BMW fell 8.2% and Mercedes-Benz 20.7% year on year.
The Model Y does the heavy lifting
The Model Y alone accounted for 11,421 registrations across its trims, the most of any imported model and almost double BMW's entire monthly total. By individual variant, the Model Y L led with 8,690 units, followed by the Model Y Premium with 2,467 and the Mercedes-Benz E 200 with 2,133.
EVs now outsell hybrids among imports
| 1 | Total imports: 34,904 imported passenger cars were registered in September, up 17.1% from August and 6.3% year on year. |
|---|---|
| 2 | EVs: 18,181 units, up 41.0%, for a 52.1% share of imports. |
| 3 | Hybrids: 13,620 units, down 17.9%, for a 39.0% share. |
| 4 | Year to date: from January to September, Tesla registered 89,148 cars, up 104.4%, for a 31.87% share of imports. BYD rose 578.7% to 20,137. |
Subsidies are running dry
In Seoul and Gyeonggi, 80 to 90% of regional EV subsidy budgets had been used by late September, and some regions have stopped taking applications. Even where money is left, cars already waiting for delivery may claim it first, so a contract signed now may not secure a subsidy this year.
Brands have stepped in with their own money. Tesla offered up to ₩2.15 million of its own support to customers in areas where subsidies had run out, for deliveries until 30 September. BYD offered up to ₩1.69 million per model after it was left out of the subsidy scheme in July.
What buyers in South Korea should check
| 1 | Ask your local authority whether EV subsidy funds remain before you sign a contract. |
|---|---|
| 2 | Ask the dealer whether any brand support is still on offer. Tesla's ₩2.15 million programme only covered deliveries until 30 September. |
| 3 | Get a written delivery estimate, since a long wait can push you past the point where local funds run out. |
| 4 | If you are weighing an EV against a hybrid, compare the price after any subsidy, not the list price. |
Bottom line
Tesla's September result shows how fast South Korea's import market has swung towards EVs, with one model now outselling whole premium brands. With regional subsidies drying up, the next few months will test whether brand discounts can keep that momentum going. Follow the CarVoltX blog for more car market news from South Korea and beyond.
