SEOUL, Dec. 12 (Korea Bizwire) — The value of imported diesel-powered vehicles plunged 22 percent in the January-October period from a year earlier following Volkswagen’s diesel gate, a local trade association said Tuesday.
The value of imported diesel cars fell to US$3.39 billion in the first 10 months from $4.99 billion in the same period in 2016, according to data from the Korea International Trade Association (KITA).
In contrast, the value of imported gasoline models rose 1 percent on-year to $3.53 billion, the data showed.
In total, the country’s vehicle imports declined 3.4 percent to $8.47 billion in the 10 months from $10.47 billion a year earlier, KITA said.
In July last year, Audi Volkswagen Korea Ltd. voluntarily stopped selling its vehicles in South Korea as Seoul announced it would ban the sale of all Audi and Volkswagen cars, and impose heavy fines on the German carmaker after it admitted to having falsified U.S. emissions tests in some of its diesel-powered cars.
After obtaining certification from the environment ministry for the resumption of sales of its models in South Korea, the German carmaker recently began to place its models at local dealerships.