German Automakers and Toyota Being Investigated for Price Fixing in Korea

ToyotaToyotaJapan, 1937 > present155 models
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, BMWBMWGermany, 1918 > present87 models
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, MercedesMercedes-BenzGermany, 1924 > present197 models
9852 photos
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, AudiAudiGermany, 1909 > present83 models
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and VolkswagenVolkswagenGermany, 1938 > present98 models
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, the top foreign automakers in Korea, are under investigation by the South Korea's Fair Trade Commission for alleged price fixing and collusion.

The automakers are accused by the Fair Trade Commission of price fixing on spare parts, unfairly raised pricing, limited dealer discounts and discriminating against external financing. 

Prices on imported cars have fallen in South Korea since signing free trade agreements with the European Union and United States. The market share for imported automotive brands in Korea has reached a record high of 10%. A decade ago, imported cars had 1% of the Korean market. The two best selling imported cars in Korea are the Toyota CamryToyota Camry 8 Japan, 2011 > present18 versions
31 photos
and BMW 520dBMW 520dGermany, 2010 > present3 photos
. 

The Fair Trade Commission has not released any statements about the investigation because it is still in progress. 

Volkswagen says that it was investigated by the Korean Fair Trade Commission several years ago but was not found to be guilty of any wrongdoing. 

Source: Automotive News