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 [...]
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, Dec. 8 (Korea Bizwire) – Imported car sales in South Korea are expected to suffer an on-year fall this year for the first time in seven years, apparently affected by weaker demand for diesel cars and sales bans of popular models, industry sources said Thursday. A total of 205,162 imported vehicles have been sold [...]
SEOUL, Nov. 22 (Korea Bizwire) – The South Korean government is set to reveal an investigative report on the potential falsification of emissions documents, with a focus on imported vehicle manufacturers. The results, scheduled to be released by the end of the month, are likely to lead to sales bans and revoked vehicle certifications for [...]
SEOUL, Sept. 6 (Korea Bizwire) – It’s not the best of times for overseas automakers in Korea. With the government banning the sale of 80 Audi-Volkswagen vehicle models following the company’s emissions scandal, and a special consumption tax policy (lowered tax on vehicle purchases) finally coming to an end, sales of imported vehicles saw a [...]
SEOUL, July 29 (Korea Bizwire) – Sales of imported ‘company vehicles’ in Korea rapidly declined in H1 2016 compared to the same period in 2015, thanks to a recent revision to tax laws that took away some of the benefits of purchasing vehicles under a company name starting in 2016. Prior to the amendment, there [...]
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, Oct. 4 (Korea Bizwire) – The higher the demand for imported vehicles has soared up, the much greater the financial size of South Korea’s credit-specialized finance companies (CSFCs) for auto installment loans and facility leasing is for the first half of 2014. According to the report from the Financial Supervisory Service in South Korea, [...]