SEOUL, Oct. 16 (Korea Bizwire) — More than 7 out of 10 luxury imported vehicles selling for more than 100 million won each have been registered under corporate entities, prompting critics to call for an investigation to verify whether the vehicles have been inappropriately registered for the purpose of evading taxes. According to data submitted [...]
SEOUL, Oct. 5 (Korea Bizwire) — Sales of imported vehicles in South Korea dropped 15 percent in September from a year earlier as fewer working days weighed on the monthly numbers, industry data showed Friday. The total number of newly registered foreign vehicles fell to 17,222 last month from 20,234 a year ago, the Korea [...]
SEOUL, Aug. 27 (Korea Bizwire) — German carmaker BMW ranked No. 1 among imported cars registered in South Korea, industry data showed Monday, maintaining its lead despite a string of vehicle fires that have shaken consumer confidence in the brand. According to the data compiled by the Korea Automobile Manufacturers Association and the Korea Automobile [...]
SEOUL, Dec. 5 (Korea Bizwire) – A survey of prospective car owners has revealed that if prices of both domestic autos and foreign brands are raised by equal amounts, demand for the former will suffer, while consumer proclivity for the latter will actually increase. The domestic auto industry has gone on to say that should [...]
SEOUL, Dec. 4 (Korea Bizwire) – South Korean consumers tend to move towards imported cars when government regulations prompt price increases, a new survey has found. According to the report from Consumer Insight, which was conducted at the request of the Korea Automobile Manufacturers Association, when the price of cars rose by two million won, the [...]
SEOUL, Dec. 23 (Korea Bizwire) – Poor after-sales services largely caused by too few repair centers are causing serious inconveniences for over one million owners of imported vehicles here, a consumer agency said Friday. As of the end of November 2015, the number of foreign vehicles registered here came to 1.26 million, according to the [...]
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 [...]
SEOUL, Feb. 6 (Korea Bizwire) – The number of newly registered foreign cars in January 2015 reached an all-time high since the Korean auto market was opened to foreign competition 25 years ago. According to an announcement from the Korea Automobile Importers & Distributors Association (KAIDA), 19,930 imported cars were sold in January, an increase of 16.4 [...]