How car importers are ripping buyers off

How car importers are ripping buyers off

A businessman visited a Mercedes-Benz dealer in Gangnam in southern Seoul to ask about an E-Class model. Not happy with the price, he went to another outlet nearby to be told that he can pick it up 4 million won ($3,600) cheaper. He said, “It ‘s difficult to understand how an identical model can be priced at a difference of a few million won. It is ot like you can visit all the dealers in town.” Another potential customer in a large provincial city was interested in a Golf model from Volkswagon and wrote up the initial purchase contract Not convinced about the price, he went to another dealer and was told that it was 1 million won ($900) cheaper. He immediately called the initial contractor and said he wanted to call off the deal, only to be threatened that he could not do so. Foreign cars first made their existence felt about 25 years ago and you can see them even on the roads of provincial cities. The current estimate is that 120,000 units will be sold for a domestic market share of 10 percent, meaning one in every 10 new cars will be foreign. While this should indicate that imported vehicles are generally-traded products, the luxurious showrooms provide a different feeling. But many people who actually make purchases complain of regrets. With the implementation of the Free Trade Agreement with the European Union, prices initially fell by about 0.5 percent but those of popular models by companies like Mercedes-Benz increased by an average of 5 percent in each of the past two years.