The Korea Times close
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Business
  • Tech
  • Bio
  • Companies
Finance
  • Companies
  • Economy
  • Markets
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
Entertainment
& Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
Sports
World
  • SCMP
  • Asia
Video
  • Culture
  • People
  • News
Photos
  • Photo News
  • Darkroom
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Sat, July 2, 2022 | 17:08
Business
European carmakers may face probes for price fixing
벤츠, BMW FTA에도 불구하고 폭리 취해
Posted : 2012-06-20 17:36
Updated : 2012-06-20 17:36
Print Preview
Font Size Up
Font Size Down

By Park Si-soo

European carmakers may face investigations for allegations that they were engaged in price fixing, while not pricing in tariffs under the Korea-European Union (EU) free trade pact.

After monitoring the prices of BMW, Mercedes Benz, Audi and Volkswagen vehicles, the country’s most popular imported auto brands in that order, officials at the Fair Trade Commission (FTC) said Wednesday there are reasons to allege that these companies have been involved in profiteering and collusion.

FTC didn’t say whether or not it will conduct a probe but on the basis of findings, it reserves the right to do so at its own discretion.

The automakers have lowered the prices of their cars by an identical 1.4 percent after the Korea-EU free trade agreement (FTA) went into effect in July last year and reduced the Korean tariffs on their products by the same 2.4 percent. Tariffs will be cut by another 2.4 percent starting next month.

While drivers here had obviously hoped the price cuts to be more profound, the FTC appeared to be more interested in investigating the suspicions of price fixing.

``We collected information regarding the four carmakers to draw a broad picture of their sales and product circulation in the domestic market as well as evaluate the effect of the FTA,’’ said an FTC official.

``But we didn’t conduct on-site inspections or other investigative actions to confirm whether they breached the country’s fair trade law,’’ brushing away speculation that the watchdog is preparing a direct attack on the automakers’ pricing policies.

BMW’s popular 520d passenger car is currently being sold for 63.5 million won (about $55,200), although the shaving in tariffs suggests that the price tag could be 620,000 won lower than that, the FTC said.

The Mercedes Benz E200CGI is now available at 57.7 million won, although authorities prefer it to be 600,000 won cheaper.

Representatives of the European carmakers accused the Korean officials of oversimplifying the pricing logic, saying it’s unreasonable to request the carmakers to cut prices at the same rate of the reduction in tariffs.

``We have saved 2.4 percent of import prices under the FTA, but we have suffered increased domestic taxes and other extra costs for transportation and other sales activities. Considering this, our policy of selling a car at a price 1.4 percent lowered than before the FTA should be justifiable,’’ said one official.

In contrast to its European rivals, the U.S. automaker Ford has launched an aggressive promotion campaign in the domestic market and has lowered the prices at a sharper rate than the reduced tariffs under the Korea-U.S. FTA.

Some models are available at even 5.25 million won lower than prices set before the KORUS FTA, which carries the same effect of 9.8 percent of reduced tariffs.

벤츠, BMW FTA에도 불구하고 폭리 취해
수입차 업체들이 한·유럽연합(EU) 자유무역협정(FTA)의 관세 인하 혜택을 국내 소비자들에게 돌려주지 않고 일부를 가로채 ‘얌체 상혼’이라는 빈축을 사고 있다. 더구나 이 업체들은 자동차값 인하폭을 일률적으로 맞춰 담합 의혹까지 받고 있다. 자동차 업계에 따르면 7월 1일 한·EU FTA의 발효 2년차를 맞아 유럽산 수입차의 관세는 현행 5.6%에서 3.2%로 2.4% 포인트 내리게 된다. 앞서 지난해 이맘때는 관세가 8%에서 5.6%로 내렸다. 하지만 BMW, 아우디, 폭스바겐, 벤츠 등 독일산 수입차 ‘4인방’은 차량의 소비자가격을 1.5% 안팎에서 내리기로 결정했다. 서로 말을 맞춘 듯 관세 인하분 중 1% 포인트 정도를 자신들의 몫으로 챙긴 것이다. BMW는 베스트셀링카 ‘520d’를 6350만원에서 6260만원으로 90만원(1.43%) 내리기로 했다. 벤츠는 주력 모델인 ‘E200 CGI’를 5850만원에서 5770만원으로 80만원(1.37%) 인하한다. 아우디와 폭스바겐도 인하폭 1.5% 선에서 곧 가격을 정할 것으로 알려졌다.
Emailpss@koreatimes.co.kr Article ListMore articles by this reporter
 
LG
LG
  • 'Crypto rebound will be more powerful than stocks'
  • Negative views of China among Koreans hit all-time high: survey
  • Bodies of child, parents found in vehicle recovered from water
  • Economic Essay Contest for University Students
  • Yoon dismisses China's claim that Korea is joining NATO's Indo-Pacific expansion
  • 1,000 people evacuated from building in central Seoul after tremor
  • Baemin, Coupang Eats scramble to retain delivery drivers
  • Ruling party's odd man out
  • Yoon heads home after attending NATO summit in Spain
  • North Korea blames balloons from South for COVID-19 outbreak
  • Korean studies struggles to grow despite success of K-pop, K-dramas Korean studies struggles to grow despite success of K-pop, K-dramas
  • [INTERVIEW] Bae Suzy shows another side in 'Anna' [INTERVIEW] Bae Suzy shows another side in 'Anna'
  • Korea's 1st queer romance reality show to hit air July 8 Korea's 1st queer romance reality show to hit air July 8
  • [INTERVIEW] Filmmaker points lens at North Korea's political prison camps [INTERVIEW] Filmmaker points lens at North Korea's political prison camps
  • Naver Webtoon launches horror-themed playground in metaverse Naver Webtoon launches horror-themed playground in metaverse
DARKROOM
  • Afghanistan earthquake killed more than 1,000

    Afghanistan earthquake killed more than 1,000

  • Divided America reacts to overturn of Roe vs. Wade

    Divided America reacts to overturn of Roe vs. Wade

  • Namaste: Yogis to celebrate International Yoga Day

    Namaste: Yogis to celebrate International Yoga Day

  • Poor hit harder by economic crisis

    Poor hit harder by economic crisis

  • Roland Garros 2022

    Roland Garros 2022

The Korea Times
CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Location
  • Media Kit
  • Contact Us
  • Products & Service
  • Subscribe
  • E-paper
  • Mobile Service
  • RSS Service
  • Content Sales
  • Policy
  • Privacy Statement
  • Terms of Service
  • 고충처리인
  • Youth Protection Policy
  • Code of Ethics
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group