Related News
SK becomes 1st nation outside US to fine VW record amount
Print Edition
South Korea yesterday became the first country outside the United States to punish Volkswagen AG on the basis of its own emissions tests, slapping the German automaker with a record fine and ordering a recall of 125,522 vehicles.
The environment ministry said it ordered Volkswagen Korea to submit a recall plan by January 6 after its own testing showed Europe鈥檚 biggest auto manufacturer manipulated devices that record diesel emissions in vehicles with older engines.
It also fined Volkswagen Korea 14.1 billion won (US$12.3 million), the steepest financial penalty imposed on an automaker in Asia鈥檚 fourth-biggest economy, a decision that could scare some buyers off imported cars generally.
鈥淭oday鈥檚 measures are similar to what many other countries are doing 鈥 Germany ordered a mandatory recall, while the US has begun the process of figuring out the fine amount,鈥 Samsung Securities analyst Esther Yim said.
鈥淏ut it is Korea鈥檚 biggest fine ever of an automaker for a single issue, and could dent the market share of imported automobiles.鈥
Officials said government testing of 15 other automakers鈥 diesel models would be completed by April, creating an uncomfortable degree of uncertainty at a time of slowing sales for importers in the world鈥檚 11th-biggest auto market.
Sales of diesel-powered German imports have been gaining share in a South Korean market long dominated by home-grown players led by Hyundai Motor and Kia Motors.
But the market share of imported vehicles fell from 15.7 percent in September to 12.34 percent in October, the lowest percentage since July 2013, according to the Korea Automobile Importers & Distributors Association.
Volkwagen sales fell from 2,901 registered vehicles in September to just 947 in October, the trade group said.
Among imported brands, its market share fell from 14.2 percent in September to 5.4 percent in October.
Seoul decided to conduct its own tests on Volkswagen vehicles after the German giant admitted in September that it installed software in up to 11 million diesel vehicles globally that vastly understated their actual emissions of smog-causing nitrogen oxides.
Cars to be recalled in South Korea are Euro 5 engine vehicles with 2,000cc and 1,600cc diesel 鈥淓A189鈥 engines, mainly sold in South Korea between 2008 and 2015 including the popular Tiguan model, the ministry said in a statement.
The ministry said it had not yet determined whether Volkswagen vehicles with the newer 鈥淓A288鈥 engine 鈥 mainly Euro 6 models 鈥 had manipulated emissions.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
