Tesla Q1 Deliveries Reach 372,160; March South Korea Sales Surge 329%
Tesla delivered 11,130 vehicles in South Korea in March, up from 2,591 a year earlier, led by the Model Y Premium and Model 3 Premium Long Range. Wall Street expects about 372,160 Q1 deliveries, an 11% y/y rise that remains below peak as EV demand cools without US tax credits.
1. South Korea Sales Surge
Tesla’s March deliveries in South Korea jumped to 11,130 units from 2,591 a year earlier after successive price cuts on Model Y and Model 3 variants. The Model Y Premium accounted for over 5,500 sales, the Model 3 Premium Long Range added nearly 1,900 units and the standard Model 3 contributed more than 1,200, helping imported car registrations hit a record high.
2. Q1 Delivery Outlook
Analysts project roughly 372,160 vehicle deliveries in Q1, marking an 11% year-over-year increase but remaining below Tesla’s recent quarterly peaks near 500,000. Headwinds include cooling global EV demand, the expiration of US federal tax credits and the phaseout of Models S and X.
3. Strategic Shifts and Future Models
Tesla is relying on its core vehicle business to fund expansion into AI, autonomy and robotics even as competition intensifies. The company plans to introduce the Model Y L to South Korea later this year following rollouts in other Asian markets.