Musk’s Tesla overtakes Mercedes-Benz as 2nd largest seller of imported cars in March

Seoul: Elon Musk-run Tesla overtook Mercedes-Benz as the second-largest seller of imported vehicles in South Korea last month, industry data showed on Wednesday.

The number of newly registered imported cars came to 25,263 units in March, up 6 per cent from 23,840 units a year ago, the Korea Automobile Importers & Distributors Association said in a statement.

Of those, BMW accounted for 6,549 units, followed by Tesla and Mercedes-Benz, with 6,025 units and 4,197 units, respectively, reports Yonhap News Agency.

It marked the first time for Tesla to beat Mercedes-Benz in South Korea in terms of sales. Lexus and Volvo came in fourth and fifth, selling 1,218 units and 1,081 units, respectively.

Industry watchers attributed Tesla’s strong advance in sales to the confirmation of government EV subsidies last month. Also, Mercedes-Benz saw a significant decrease in registrations due to delivery delays caused by political tensions in the Middle East.

In terms of individual models, Tesla’s Model Y was the bestselling car, selling 5,934 units, followed by the BMW 5 and the Lexus ES, with 2,259 units and 822 units, respectively.

Meanwhile, Tesla has released its first quarter (Q1) of 2024 delivery and production results.

In Q1, the company said it produced over 433,000 vehicles and delivered approximately 387,000 vehicles. It deployed 4,053 MWh (megawatt-hour) of energy storage products in the first quarter, the highest quarterly deployment yet.


Study shows how cancer cells evade drug treatments

New Delhi: US researchers have found during a study how cancer cells manage to evade despite treatment. Published in the Proceedings of the National Academy of Sciences, the study delves...

UPI adding up to 60 lakh new users every month, global adoption surge

New Delhi: The digital payment growth continues to surge and Unified payments Interface (UPI) is now adding up to 60 lakh new users every month. The stupendous growth in UPI...

Economic Survey to be tabled in Parliament on July 22

New Delhi: Finance Minister Nirmala Sitharaman will table the Economic Survey in Parliament on July 22, a day ahead of the Union Budget, which will be a report card on...

100 crore new jobs to be created globally in 20 years, India to have 25 pc share

New Delhi: The world is likely to see a huge addition of 100 crore new workers in the global economy in the next 20 years and India will have at...

Sharp selloff hits Indian stock market, investors lose Rs 8 lakh crore

Mumbai: The Indian equity market witnessed a sharp selloff on Friday, following weak global cues and profit booking on higher levels. At closing, Sensex was down 738 points or 0.91...

NITI Aayog sets $500 bn target for electronics manufacturing to create 6 million jobs by 2030

New Delhi: India's goal of becoming the third-largest global economy necessitates a more ambitious vision for its technology-driven sectors to achieve a USD 500 billion target in electronics manufacturing by...

Indian economy shows signs of speeding up as rural demand surges: RBI

Mumbai: The second quarter (July-September) of 2024-25 has begun with signs of quickening momentum in the Indian economy as an improvement in the outlook for agriculture and the revival of...

Vehicles with non-affixed FASTag have to pay double fee at toll plazas: NHAI

New Delhi: The Centre said on Thursday that owners of vehicles with non-affixed FASTag on the front windshield will have to shell out double fee at the toll plazas on...

Infosys’ headcount drops 1,908 in Q1 FY25, plans to hire 20,000 freshers as per growth

Bengaluru: IT giant Infosys on Thursday reported a drop in headcount by 1,908 in the April-June quarter of the current fiscal (FY25). The company’s Chief Financial Officer (CFO) Jayesh Sanghrajka...

ADB forecasts robust growth in India’s industrial sector, rebound in agriculture

Manila: The Asian Development Bank (ADB) has kept India’s growth forecast unchanged at 7 per cent in 2024-25 as it sees the country as the fastest growing economy with robust...

PM Modi wants India to become a ‘developed society’ by 2047, says Niti Aayog Vice Chairman

United Nations: Suman Bery, the Vice Chairman of NITI Aayog which is tasked with guiding policies for achieving Prime Minister Narendra Modi’s visions for India, has spoken exclusively with the...

Working closely with component partners in India to boost infra, supply chain: Samsung’s TM Roh

New Delhi: As India doubles down on local electronics manufacturing and the entire ecosystem around it, Samsung, which has been operating its manufacturing facility in the country since 1996, is...

Read Previous

Apple doesn’t have access to a customer’s passcode, says company policy

Read Next

Delhi HC reserves its verdict on CM Kejriwal’s plea challenging arrest

Leave a Reply

Your email address will not be published.

WP2Social Auto Publish Powered By :