Musk boasts of “No. 1 in Korea” with a South Korean flag post, but Tesla registrations plunge month-on-month

[Financial News] Tesla CEO Elon Musk celebrated the company’s No. 1 position in South Korea’s imported-car market by sharing on social media an image combining the South Korean flag with Tesla’s logo. However, Tesla’s new registrations in South Korea in October plunged nearly 26% from the previous month, taking monthly registrations below 10,000 for the first time since February.
According to industry sources on the 6th, Musk reshared the previous day a post on his X (formerly Twitter) account introducing Tesla’s sales performance in the South Korean market, with the words “Tesla Korea.” The post included a composite image placing Tesla’s “T” logo in the center of the taegeuk symbol on a waving South Korean flag.
The post’s author said Tesla had held the top spot in South Korea’s imported-car market for nine consecutive months, then emphasized that October registrations had surged 110.7% year over year to 9,165. Musk also shared the post, highlighting the company’s performance in the South Korean market.
The picture changes, however, when compared with the previous month.
According to the Korea Automobile Importers & Distributors Association (KAIDA), Tesla’s new registrations in October fell by 3,207, or 25.9%, from 12,372 in September. Tesla accounted for 29.5% of all imported-car registrations and remained the top brand, but monthly registrations fell below 10,000 for the first time in eight months.
The post Musk shared focused on the annual growth rate and market ranking, but a clear decline in recent monthly results has drawn attention to whether Tesla can recover its registration numbers.
[email protected] Kim Hak-jae Reporter