The nation’s antitrust watchdog has launched a full-scale investigation upon suspicions that Volkswagen Korea ran false advertisements about vehicles for which it had rigged emissions tests, officials said Friday.
The probe is expected to strike a blow to the Korean unit of the German carmaker, which is already facing a separate criminal probe and a series of class action suits both in local and US courts.
The Fair Trade Commission is zeroing in on speculation that the carmaker claimed to have passed US and European emissions tests with excellent results, satisfying requirements for the Euro 5 standards.
“We are closely looking into whether VW vehicles have met the Euro 5 standards just like the company advertised,” a FTC official said.
The Euro 5 standard is an emission regulation adopted by the EU to limit pollutant emissions, such as nitrogen oxides and particulate matter from diesel and petrol cars, to protect public health and curb environmental problems.
From 2009, Volkswagen sent out advertisements claiming it passed emissions tests in the U.S. and Europe, using specific terms such as “Clean Diesel,” “Eco-friendly” and “Blue Motion.”
Full content: Automotive News Europe
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Extends Support for Farms and Fisheries Amid Market Disruptions
May 5, 2024 by
CPI
Sony and Apollo Bid $26 Billion for Paramount Acquisition
May 5, 2024 by
CPI
Goldman Sachs Resolves Decade-Old Metal-Rigging Class Action Lawsuit
May 5, 2024 by
CPI
Italian Antitrust Ruling Puts Halt on Intesa Sanpaolo’s Fintech Ambitions
May 5, 2024 by
CPI
Google Antitrust Case: Closing Arguments Conclude
May 5, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI