What Do A BMW 5-Series AND Ford Taurus Share In Common?

The Truth About Cars reports:

Give up? The answer is that they’re giving South Korea a headache. OK, let’s go back a bit. The Korea Times reports that something funny is happening to the South Korean car market. Effectively, for years, the South Korean car market used to be closed off to foreign competition, thus, keeping domestic production and sales high. The market for foreign was only for the exclusively rich who didn’t mind paying the tariffs. But now, even the proletariat is getting in on the act. In spite of a global slump in the market, the Korea Automobile Importers and Distributors Association (KAIDA) reports that foreign imports rose, month on month, by 51.1 percent, to 7,208 units in April. Still a drop in the water: Korea makes 3.5m cars in a good year, of which 2.5m are exported. But it’s a start...

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uaw_lax - 5/10/2010 12:14:59 AM

+5 Boost

Many counties have closesd markets to protect thier industries including Japan.

als723 - 5/10/2010 4:22:53 AM

+3 Boost

They both have four wheels and an engine?

91z4me - 5/10/2010 7:38:39 PM

+3 Boost

And 4 doors and a steering wheel.

LexSucks - 5/10/2010 11:31:06 AM

+3 Boost

That's what happens when they allow competition. Koreans would gladly pay a premium for cars that aren't Korean. That should be telling us something. And I'd never purchase cars from a country that doesn't allow other non-domestic car companies to compete fairly.

uaw_lax - 5/10/2010 4:46:13 PM

+3 Boost

America and real Americans need to wake up if our markets are open then so should thiers.