This file photo provided by Automobili Lamborghini shows the Urus Performante SUV model.
SEOUL, Aug. 3 (Korea Bizwire) — Controversy is brewing over Automobili Lamborghini S.p.A.’s policy of not refunding deposits to customers who cancel their purchases after signing contracts for new cars.
According to industry sources, the Italian luxury sports car maker recently asked South Korean customers committed to purchasing models like the Urus and Huracan to sign a non-cancellation confirmation document.
This document stipulates that if customers cancel the contracts after the production of new cars has commenced following the contract signing, the deposit will not be refunded.
When entering into car purchase contracts, consumers typically pay deposits of about 100,000 won (US$77) for locally-produced cars and 1 million won for imported cars.
However, for the Lamborghini Urus Performante SUV and Huracan sports car, the deposits are significantly higher at 25 million won and 40 million won, respectively.
If the contracted models have not been released, consumers can cancel contracts at any time, and in this case, deposits are refunded.
In conventional contracts, such as real estate, if one party unilaterally cancels the contract, it must pay double the compensation (twice the amount of the deposit).
However, regarding car deposits, the refund policy is more flexible, as there are instances where carmakers alter the terms of the contracts.
Previously, U.S. electric vehicle maker Tesla Inc. received a corrective order from the Fair Trade Commission after failing to refund new car deposits to consumers.
J. S. Shin (js_shin@koreabizwire.com)
