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Brazil Tax Authorities to Probe S. Korean Auto Imports

Written: 2010-06-11 08:57:32Updated: 2010-06-11 10:07:12

Brazil Tax Authorities to Probe S. Korean Auto Imports

Brazilian tax authorities have reportedly launched a probe on South Korean cars after a jump in Korean imports.

According to the Brazilian daily, O Estado de S. Paulo, on Friday Brazil’s federal tax agency accepted a request by the Brazilian Motor Vehicle Manufacturers Association to conduct an investigation on cars imported from South Korea.

A Brazilian government official said the probe will focus on whether Hyundai Motor, Kia Motors and Ssangyong Motor imported autos to Brazil after lowering prices.

The auto association’s request follows growing unease among Brazilian carmakers as the number of South Korean vehicle imports recently tripled.

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