Tesla Korea, Model 3 and Model Y Sales Prices Increased by up to 7 Million Won

Tesla Korea, Model 3 and Model Y sales prices increased by up to 7 million won

U.S. electric vehicle manufacturer Tesla raised its domestic sales prices by up to 7 million won on the 1st.

According to the industry, Tesla Korea increased the price of the 'Model 3 Premium Long Range RWD' from the previous 52.99 million won to 59.99 million won as of today.

The 'Model 3 RWD' and 'Model 3 Performance' increased by 5 million won each, to 46.99 million won and 69.99 million won, respectively.

The 'Model Y Premium Long Range AWD' and 'Model Y L' each increased by 3 million won, to 66.99 million won and 72.99 million won, respectively.

This price increase came just one day after the government decided to maintain electric vehicle purchase subsidies for 27 companies, including Tesla Korea.

The 'Evaluation for Selection of Electric Vehicle Supply Project Operators' announced by the Ministry of Climate, Energy, and Environment the previous day is a system designed to ensure that only automobile manufacturers and importers contributing to the domestic electric vehicle ecosystem receive purchase subsidy benefits.

A Tesla Korea official explained, "There has been pressure to increase prices due to factors such as exchange rates and rising raw material prices. We had no choice but to raise prices, regardless of subsidies."

Tesla is leading the domestic electric vehicle market, selling 45,020 units in the domestic market from January to May this year, a 250.8% surge compared to the same period last year. 34,171 Model Y units and 8,447 Model 3 units were sold.