SEOUL, July 11 (Korea Bizwire) – The Volkswagen scandal has withered the general reputation of German automakers in Korea. Nonetheless, domestic demand for imported vehicles continues to rise. Surprisingly, Volkswagen’s Tiguan 2.0 TDI BlueMotion claimed the number one spot as the best-selling foreign car according to the KAIDA (Korea Automobile Importers and Distributions Association). The [...]
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, 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 [...]
BUSAN, June 2 (Korea Bizwire) – The 2016 Busan International Motor Show took off Thursday at the BEXCO exhibition hall in Busan. The show, which will run until June 11, has 91 domestic and 141 international models on display. A total of 46 of the models will be revealed for the first time to the domestic [...]
SEOUL, May 24 (Korea Bizwire) – If you’re a motorcycle fanatic, you might want to visit the latest BMW café in Korea. Lotte Department Store’s Premium Outlet in Icheon will open a café where visitors can enjoy the BMW motorcycles on display as well as other accessories such as clothing and helmets. The café is [...]
SEOUL, May 9 (Korea Bizwire) – Sales of foreign cars in South Korea dropped 2 percent on-year in April as some importers failed to secure a sufficient amount of cars to meet demand here, industry data showed Monday. According to the data compiled by the Korea Automobile Importers and Distributors Association, a total of 17,845 [...]
SEJONG, March 31 (Korea Bizwire) – BMW Korea Co., the local unit of the German carmaker, will recall a combined 3,296 of the 3 series and 5 series sedans for problems with their airbags as part of the company’s worldwide recall plan, the South Korean transportation ministry said Thursday. The models’ airbags, produced by Japan’s Takata Corp., [...]
JEJU, March 18 (Korea Bizwire) – An international expo for electric vehicles kicked off in South Korea on Friday with major automakers showcasing their latest EV models and holding a series of meetings to share their views on the current and future technologies for eco-friendly vehicles. The 3rd International Electric Vehicle Expo (IEVE) began on [...]
SEOUL, March 10 (Korea Bizwire) – With restrictions on the accounting of vehicles for business use becoming stricter, the number of imported cars being used as corporate vehicles has dropped to a historic low. Vehicles from brands such as Rolls-Royce, Bentley, Porsche, Jaguar, Lexus, Audi and BMW that were purchased as corporate cars and then [...]
SEOUL, Feb. 25 (Korea Bizwire) - Major foreign brands selling cars in South Korea have decided not to offer any refunds to their customers despite the government’s recent tax cut, claiming that it has already been reflected in their ramped-up sales promotions, company officials said Thursday. The government ended a 1.5-percentage-point excise tax cut at the [...]