Import car brands are reportedly backing away from exhibiting at the upcoming biannual Seoul Motor Show.
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It would be a blow to the April show, but import sales in South Korea remain small and are slowing.
The Korea Herald said that in an effort to save costs, local operations of foreign carmakers are staying away from the show.
So far, the report said, some 12 import brands, which is more than half of the 22 brands registered with the Korea Automobile Importers and Distributors Association, have decided not to take part in this year’s show and several others are said to have doubts.
Brands that will not be taking part are BMW, Chrysler, Ferrari, GM, Infiniti, Jaguar, Land Rover, Mitsubishi, Nissan, Porsche, Subaru and Volvo. Ford and a number of other brands’ local operations are still undecided.
“We decided not to take part in this year’s Seoul International Motor Show as Korea’s imported car market is slowing down, and many factors including the cost and effect of taking part in the show were taken into account in making the decision,” a Volvo Korea official told the newspaper.
