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Tesla raises Model 3 and Model Y prices in South Korea amid new EV subsidies
Tesla has increased prices for its Model 3 and Model Y vehicles in South Korea as the government launched second-half EV subsidies. The Model 3 RWD price rose from 41.99 to 46.99 million won, Long Range to 52.99 million, and Performance to 69.99 million. For the Model Y, the Premium RWD price remained unchanged, but the Long Range AWD increased to 66.99 million and the six-seater to 72.99 million won. This follows a government evaluation that cut subsidies for some automakers, yet Tesla continues to lead the local market.
- Model 3 RWD price increased by 5 million won to 46.99 million
- Model Y Long Range AWD price increased by 3 million won to 66.99 million
🔎 Why it matters: The price increase coincides with the start of South Korea’s second-half EV subsidies and impacts key Tesla models.
📈 Upside: Tesla adjusts pricing in response to regulatory changes while maintaining market leadership in Korea.
📉 Risk: Price hikes on the first day of new subsidies may attract criticism from consumers and regulators.
🤖 Automated analysis and summary. Every story links its original source for verification.