South Korean court issues warrants to detain impeached President Yoon and search his office

SEOUL, South Korea (AP) — A South Korean court issued warrants Tuesday to detain impeached President Yoon Suk Yeol and search his office and residence over allegations of rebellion in connection with his short-lived declaration of martial law.

It's the first time a warrant has been issued to detain a sitting South Korean president. But experts say there is little chance of detention or searches unless Yoon is formally removed from office.

The Seoul Western District Court issued warrants to detain Yoon and to search the presidential office and residence in central Seoul, according to a statement from the Corruption Investigation Office for High-Ranking Officials, which is leading a joint investigation with police and military authorities.

The agency says it's been investigating whether Yoon's Dec. 3 declaration amounted to rebellion.

Under South Korean law, the leader of a rebellion can face the death penalty or life imprisonment if convicted. Yoon has presidential immunity from most criminal prosecutions, but the privilege does not extend to allegations of rebellion or treason.

Yoon's powers have been suspended since the opposition-controlled National Assembly voted to impeach him on Dec. 14 over his imposition of martial law, during which hundreds of troops and police officers were deployed at the assembly. By law, a president in South Korea is allowed to declare martial law only during wartime or similar emergencies and has no right to suspend parliament’s operations even under martial law.

Yoon has argued his decree was a legitimate act of governance, calling it a warning to the main liberal opposition Democratic Party — which he has called “a monster” and “anti-state forces” — that has used its legislative majority to impeach top officials, undermine the government’s budget, and which he claims sympathizes with North Korea.

The Constitutional Court is to determine whether to dismiss Yoon as president or reinstate him.

Experts said Yoon is likely to ignore the warrants. He's already dodged repeated requests by investigative authorities to appear for questioning, and the presidential security service has blocked attempts to search his office and residence citing a law that bans raids on sites with state secrets.

Yoon Kap-keun, a lawyer for the president, called the detainment warrant “invalid" and “illegal," saying the anti-corruption agency lacks legal authority to investigate rebellion charges. The presidential security service said it will provide security to Yoon in accordance with the law.

The anti-corruption agency said it has no immediate plans on when it would proceed with the warrants.

“Unless Yoon voluntarily lets them detain him, there is no way to detain him,” said Choi Jin, director of the Seoul-based Institute of Presidential Leadership. “Should investigators have hand-to-hand fights with the security service?”

Choi said that investigators were still likely to visit Yoon’s residence to show they are strictly and fairly carrying out their work.

Park Sung-min, president of Seoul-based political consulting firm MIN Consulting, said the push for an arrest warrant is likely an attempt to pressure Yoon to cooperate with investigations.

Former President Park Geun-hye, who was thrown out of office in 2017 following an impeachment over a corruption scandal, also refused to meet with prosecutors while in office. She underwent questioning by them and was arrested after the Constitutional Court removed her from office.

Yoon's imposition of martial law lasted only six hours but triggered huge political turmoil, halting high-level diplomacy and rattling financial markets. Despite Yoon's deployment of troops and police, enough lawmakers managed to enter the assembly chamber to overturn it unanimously.

Yoon's defense minister, police chief and several top military commanders have already been arrested over their roles in the martial law enactment.

Yoon has claimed he wasn't trying to stop the functioning of the assembly, saying that the troops were sent to maintain order, and also denied planning to arrest politicians. But comments by now-arrested commanders of military units sent to the assembly have contradicted this claim.

Kwak Jong-keun, the commander of the Army Special Warfare Command, testified at the National Assembly that Yoon called on troops to “quickly knock down the door and drag out the lawmakers who are inside." Kwak said he did not carry out Yoon’s orders.

The country's political crisis deepened last Friday, when the Democratic Party and other small opposition parties voted to impeach acting President Han Duck-soo as well over wrangling over his refusal to fill in three justice seats at the nine-member Constitutional Court. Observers say adding more justices could increase prospects for the court's endorsement of Yoon's impeachment as that requires support from at least six justices.

The deputy prime minister and finance minister, Choi Sang-mok, has become South Korea’s new interim leader. On Tuesday, Choi appointed two new justices, saying he feels the urgency to resolve political uncertainty and national divide.

Choi's moves drew rebukes from both the ruling and opposition parties. The governing People Power Party accused him of surrendering to the opposition’s political offensive, while the main liberal opposition Democratic Party urged Choi to quickly appoint the remaining ninth justice.

Supporters of impeached South Korean President Yoon Suk Yeol stage a rally near the presidential residence in Seoul, South Korea, Tuesday, Dec. 31, 2024. The letters read "Oppose Impeachment," and "Arrest Lee Jae-myung." (AP Photo/Lee Jin-man)

Supporters of impeached South Korean President Yoon Suk Yeol stage a rally near the presidential residence in Seoul, South Korea, Tuesday, Dec. 31, 2024. The letters read "Oppose Impeachment," and "Arrest Lee Jae-myung." (AP Photo/Lee Jin-man)

Supporters of impeached South Korean President Yoon Suk Yeol stage a rally near the presidential residence in Seoul, South Korea, Tuesday, Dec. 31, 2024. (AP Photo/Lee Jin-man)

Supporters of impeached South Korean President Yoon Suk Yeol stage a rally near the presidential residence in Seoul, South Korea, Tuesday, Dec. 31, 2024. The letters read "Oppose Impeachment," and "Arrest Lee Jae-myung." (AP Photo/Lee Jin-man)

Supporters of impeached South Korean President Yoon Suk Yeol stage a rally after hearing a news that a court issued warrants to detain Yoon, near the presidential residence in Seoul, South Korea, Tuesday, Dec. 31, 2024. The letters read "Oppose Impeachment." (AP Photo/Lee Jin-man)

Supporters of impeached South Korean President Yoon Suk Yeol stage a rally near the presidential residence in Seoul, South Korea, Tuesday, Dec. 31, 2024. (AP Photo/Lee Jin-man)

Supporters of impeached South Korean President Yoon Suk Yeol stage a rally after hearing a news that a court issued warrants to detain Yoon, near the presidential residence in Seoul, South Korea, Tuesday, Dec. 31, 2024. (AP Photo/Lee Jin-man)

FILE - Members of civic groups shout slogans during a news conference demanding the arrest of President Yoon Suk Yeol near the presidential residence in Seoul, South Korea, on Dec. 17, 2024. The letters read "Immediately arrest Yoon Suk Yeol." (AP Photo/Lee Jin-man, File)

FILE - In this photo released by South Korean President Office via Yonhap, South Korean President Yoon Suk Yeol speaks at the presidential residence in Seoul, South Korea, on Dec. 14, 2024. (South Korean Presidential Office/Yonhap via AP, File)

DETROIT (AP) — Tesla posted its first annual sales drop in more than a dozen years Thursday, sinking a stock that has soared since Donald Trump’s victory on optimism Elon Musk’s close relationship to the president-elect will help the company.

Tesla’s global vehicle sales rose 2.3% in the final quarter thanks to 0% financing, free charging and low-priced leases. But that was not enough for billionaire Musk's most valuable holding to overcome a sluggish start to 2024.

The Austin, Texas, company sold 495,570 vehicles from October through December, boosting deliveries to 1.79 million for the full year. That was 1.1% below 2023 sales of 1.81 million as overall demand for electric vehicles in the U.S. and elsewhere slowed.

The year-over-year global sales drop is Tesla’s first since 2011, according to figures from analytics firm Global Data. The company sold 1,306 vehicles in 2010, but that dropped slightly to 1,129 the following year.

The fourth-quarter boost came with a cost. Analysts polled by FactSet expected Tesla’s average sales price to fall to just over $41,000 in the quarter, the lowest in at least four years.

That doesn’t bode well for Tesla’s fourth-quarter earnings on Jan. 29.

Tesla stock fell about 5% in midday trading.

Musk donated more than $250 million to Trump’s campaign and is a regular guest at Trump’s Mar-a-Lago resort in Florida. Tesla investors have pushed the stock up more than 50% since the election on hopes the new administration will streamline electric vehicle regulations and address other Musk policy priorities.

In 2022, Tesla predicted that its sales would grow 50% most years, but the prediction ran into an aging model lineup and increased competition in China, Europe and the U.S. In the U.S., analysts say most early adopters of technology already own electric vehicles, and more mainstream buyers have concerns about range, price and the ability to find charging stations on longer trips.

The fourth-quarter deliveries fell thousands short of Wall Street expectations. Analysts polled by data provider FactSet expected sales of 498,000 vehicles.

Falling sales early in the year led to once-unheard of discounts for the automaker, cutting into its industry leading profit margins.

Competition from legacy and startup automakers is also growing as they try to nibble away at the company’s market share.

Daniel Ives, a financial analyst at Wedbush, said he thinks the stock is still worth buying despite the sales drop.

“We have never viewed Tesla simply as a car company...instead we have always viewed Musk and Tesla as a leading disruptive technology global player,” wrote Ives. “And the first part of this grand strategic vision has taken shape.”

The fourth-quarter sales, while a record for Tesla, show that the company’s aging model lineup is reaching saturation in the entry level luxury vehicle market, said Morningstar Analyst Seth Goldstein.

Aside from the Cybertruck, which has had limited appeal, Tesla’s newest consumer model is the Y small SUV which first went on sale in 2020.

To meet Tesla management’s guidance of 20% to 30% annual sales growth this year, the company will need to come out with a vehicle priced in the mid $30,000s to appeal to more mainstream buyers who might be considering gas, electric or hybrid vehicles, Goldstein said.

Tesla has floated the possibility of a new version of the Model Y that would cost in the mid $30,000s that may be smaller inside than the current Y with fewer features, Goldstein said.

“At that point you’re comparable to some Hondas and Fords and GMs,” Goldstein said. “It takes you out of the luxury market to the more affordable vehicle market.”

Jeff Schuster, vice president of automotive research Global Data, said Tesla faces intense competition worldwide from EV makers in China, the U.S. and elsewhere, many of which are selling EVs to more mainstream buyers. “If they want to continue to see the growth they had, they need to expand to other sizes and price points,” he said.

Also, Musk’s support of Trump for U.S. president also could be turning off some buyers who may be more environmentally conscious and lean toward Democrats, Schuster said. A broader, less costly lineup would appeal to a larger group of buyers, he said. “I suppose the choices that he’s made on the political front don’t line up with a good portion of his buyers’ profile,” Schuster said.

Industry experts say that Tesla used to be the only automaker with credible electric vehicles, but now others such as China’s BYD now have more to offer.

At present, automakers have 75 electric vehicle models for sale in the U.S. Through the first nine months of last year, electric vehicle sales slowed in the U.S., but they are still growing.

Through September, new EV sales rose 7.2% to about 936,000 in the U.S., according to Motorintelligence.com. That’s slower growth than the 47% increase in 2023. But EV sales this year still are likely to surpass last year’s record of 1.19 million. Most other automakers will report full-year sales on Friday.

Nearly all of Tesla’s sales last quarter came from the smaller and less-expensive Models 3 and Y, with the company selling only 23,640 of its more expensive models that include X and S, as well as the new Cybertruck.

Tesla's global electric vehicle sales edged out Chinese rival BYD, which announced Thursday that total soared 41% last year including 1.77 million EVs. The company is vying with Tesla for the world’s top selling EV maker.

Fourth quarter production of 459,445 vehicles was below total deliveries for the quarter, and full year production of 1.77 million was less than the year’s sales.

AP reporter Bernard Condon reported from New York City.

FILE - A Tesla level three Electric vehicle charger is visible, Feb. 2, 2024, in Kennesaw, Ga., near Atlanta. (AP Photo/Mike Stewart, File)

FILE - The logo of Tesla car is pictured at the Paris Auto Show, in Paris, Oct. 14, 2024. (AP Photo/Michel Euler, File)