"I Don't Buy Imported Internal Combustion Cars"...Sales Fall as Tesla and BYD Gain Popularity

The share of internal combustion engine passenger cars among newly registered imported passenger cars last year fell to about one-fifth of the level four years earlier.

According to the Korea Automobile Importers & Distributors Association (KAIDA) on the 22nd, out of a total of 307,377 newly registered imported passenger cars last year, internal combustion engine (gasoline and diesel) vehicles numbered 41,906, accounting for only about 13.6% of the total. This is a drop of 50.4 percentage points from 64% in 2021.

The share of internal combustion engine vehicles in newly registered imported cars has steadily declined over the past five years. It plunged from 64% in 2021 to 26.7% in 2024, and then fell into the 10% range last year, marking an all-time low.

The number of newly registered imported internal combustion engine vehicles itself also decreased by about 76.3%, from 170,000 units in 2021 to around 40,000 units last year.

Consumer preference for internal combustion engine cars has shifted toward eco-friendly vehicles such as electric vehicles. Last year, 91,253 imported electric vehicles and 174,218 hybrid vehicles (combined FHEV, MHEV, and PHEV) were newly registered.

The number of newly registered imported electric vehicles last year was more than 14 times higher than in 2021 (6,340 units). It also increased by over 80% compared with the previous year (49,496 units).

In particular, sales have surged as imported electric vehicles with competitive prices have entered the domestic market. Last year, 59,916 Tesla passenger cars were newly registered. Chinese electric vehicle brand BYD (Biyadi) also saw more than 6,000 units registered.