SEOUL, Aug. 5 (Korea Bizwire) — German luxury car brands used to symbolize high social status or economic success in South Korea, but they are not premium any more. The high-end vehicles have become the mainstream in the nation’s imported car market. The three big German automakers are expanding their presence in South Korea on [...]
SEOUL, Dec. 11 (Korea Bizwire) – Audi Volkswagen Korea Group said Friday it will launch eight additional all-electric models in South Korea by 2023 to bolster sales and meet growing local demand for zero-emission cars. The German carmaker launched its first pure electric e-tron SUV in July to prop up sales in the “extremely important” [...]
SEOUL, Aug. 29 (Korea Bizwire) — Audi Volkswagen Korea said Thursday it will retroactively apply lemon laws on its vehicles sold since January in a move to boost declining sales in Asia’s fourth-biggest economy. The decision came as the German carmaker’s four brands — Audi, Volkswagen, Lamborghini and Bentley — prepare to apply the laws [...]
SEOUL, Feb. 6 (Korea Bizwire) – Sales of imported vehicles in South Korea jumped 26 percent last month compared with a year earlier on increased supplies of popular brands and aggressive promotions, industry data showed Tuesday. The number of newly registered foreign vehicles rose to 21,075 in January from 16,674 a year earlier, the Korea [...]
SEOUL, April 10 (Korea Bizwire) – South Korea sent back 2,500 vehicles manufactured by Audi and Volkswagen in line with the government’s sales ban following the German carmakers’ emissions scandal last year, industry sources said Monday. According to the sources, the automobiles, including Tiguan and Golf models, have been held at a port in Pyeongtaek, [...]
SEOUL, Jan. 6 (Korea Bizwire) – An executive at the local unit of Volkswagen was sentenced to a year and a half in prison Friday on charges of fabricating reports that came to light following the German carmaker’s emissions scandal. The Seoul Central District Court found the executive, identified only by his surname Yoon, guilty [...]
SEOUL, Jan. 5 (Korea Bizwire) – Sales of imported vehicles dropped significantly from a year earlier in 2015, largely due to a sales ban on Audi and Volkswagen cars following an emissions scandal, data showed Thursday. In 2016, the number of newly registered foreign cars came to 225,279, down 7.6 percent from 243,900 the previous [...]
SEJONG, Dec. 7 (Korea Bizwire) – Audi Volkswagen Korea, the local unit of the German automaker, was slapped with a record 37.3 billion-won (US$31.9 million) fine for making false advertisements on its cars to cover up its fabricated emissions results, the corporate watchdog said Wednesday. The company had advertised on- and offline that its models [...]