From Fortune:

Tesla Inc. had its worst month since July 2022 in South Korea, selling just one Model Y SUV in January. EV demand fell as interest rates and inflation rose, and concerns about battery fires and lack of charging stations weighed on sales. Mass-market consumers aren’t buying yet, and Tesla’s China-made connection concerns some buyers. Early adopters already have EVs and people wait for government subsidies. Tesla also faces price and government subsidy issues in Korea.



Read more: Tesla sold just one EV in South Korea last month due to China, charging concerns