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[THE INVESTOR] Sales of imported cars in South Korea plunged on-year in September, according to industry data on Oct. 7.
In September, 16,778 new imported cars were registered, according to the data from the Korea Automobile Importers and Distributors Association.
The September reading marked a 5.3-percent increase from the previous month. However, from the same month last year, the figure marked a 17.7-percent plunge. September marked the second consecutive month of drop following a 12.5-percent on-year cut in the previous month.
Such a sharp drop in September was again attributed to the sales ban on vehicle models sold by Audi Volkswagen Korea, the local importer of the two German vehicle brands, for fabricating the cars’ emissions and fuel efficiency test results when acquiring their sales license here.
Sales of Audi cars plunged 85.1 percent on-year to 506 last month from 3,401 a year earlier, while sales of Volkswagen vehicles also tumbled 93.7 percent to 184 from 2,901 over the cited period, according to the data.
(theinvestor@heraldcorp.com)
In September, 16,778 new imported cars were registered, according to the data from the Korea Automobile Importers and Distributors Association.
The September reading marked a 5.3-percent increase from the previous month. However, from the same month last year, the figure marked a 17.7-percent plunge. September marked the second consecutive month of drop following a 12.5-percent on-year cut in the previous month.
Such a sharp drop in September was again attributed to the sales ban on vehicle models sold by Audi Volkswagen Korea, the local importer of the two German vehicle brands, for fabricating the cars’ emissions and fuel efficiency test results when acquiring their sales license here.
Sales of Audi cars plunged 85.1 percent on-year to 506 last month from 3,401 a year earlier, while sales of Volkswagen vehicles also tumbled 93.7 percent to 184 from 2,901 over the cited period, according to the data.
(theinvestor@heraldcorp.com)
