SEOUL, July 15 (Korea Bizwire) – With 32 Volkswagen models likely to have their government certification revoked at the end of July, consumers have been growing anxious with speculation spreading that the company might pull out of the Korean market. Resale values of the models in question have plummeted, and used car transactions have ground [...]
SEOUL, July 13 (Korea Bizwire) – Following its shocking emissions scandal, Volkswagen may have settled matters with the U.S., but it still has a long way to go in South Korea. An official investigation into Volkswagen’s manipulation of emissions data is ongoing, and Korea is likely to ban the sale of 32 Volkswagen models by [...]
SEOUL, July 6 (Korea Bizwire) – Sales of foreign cars in South Korea shed 3.5 percent on-year in June, weighed down by a slump of German automaker Volkswagen Group in the wake of a widening probe into its emissions scandal here, industry data showed Wednesday. A total of 23,435 units of imported cars were registered [...]
SEOUL, July 5 (Korea Bizwire) – A former CEO of the local branch of Volkswagen was summoned by prosecutors Tuesday over the German carmaker’s alleged irregularities that came to light following last year’s emissions scandal. The Seoul Central District Prosecutors’ Office summoned Park Dong-hoon as a material witness to gain background information. Prosecutors said his [...]
SEOUL, June 30 (Korea Bizwire) – German carmaker Volkswagen on Wednesday ruled out compensations to South Korean owners of Volkswagen cars for cheating on emissions, a move that could spark anger and disappointment from local consumers. Volkswagen said its agreements reached with the U.S. regulators and private plaintiffs over the scandal “are not an admission” [...]
SEOUL, June 28 (Korea Bizwire) – Volkswagen is now facing a lawsuit from Korean consumers of one of the company’s gasoline vehicles, the seventh generation Golf 1.4 TSI. A total of 26 vehicle owners filed a lawsuit Monday against the German Volkswagen Group, Audi-Volkswagen Korea, and the car’s domestic distributor, through Barun Law LLC, a [...]
SEOUL, June 24 (Korea Bizwire) – Seoul prosecutors formally arrested an executive of the local unit of Volkswagen on Friday over his alleged involvement in the German carmaker’s irregularities that came into light following its emissions scandal. The Seoul Central District Court issued a warrant to arrest the executive in charge of the vehicles’ certification [...]
SEOUL, June 17 (Korea Bizwire) – In an effort to stimulate Korea’s moribund domestic consumption, the government lowered its special consumption tax on vehicles from 5 percent to 3.5 percent, starting from August 2015. This tax benefit — which will expire at the end of June — however, has brought about “undue profit” to foreign car makers while [...]
SEOUL, June 16 (Korea Bizwire) – A recent investigation has revealed that Audi Volkswagen Korea ignored the Ministry of Environment’s warning about excessive NOx emissions from the company’s diesel vehicles five years ago. “The ministry requested that Audi Volkswagen Korea provide improvement measures for its diesel vehicles’ excessive emissions of NOx in 2011, which the [...]
SEOUL, June 10 (Korea Bizwire) – Volkswagen customers have submitted a petition to the Ministry of Environment, demanding that their vehicle purchases be refunded in lieu of a recall. Seoul Central District Prosecutors’ Office said Thursday that Audi Volkswagen Korea arbitrarily changed key parts of some 50,000 vehicles, altering their emissions. The ministry rejected Volkswagen’s [...]