Motoring @ AsiaOne

SKorea's Hyundai Motor cuts domestic production

Hyundai Motor plans to cut domestic production and those in its US plants due to slowing demand. -AFP

Mon, Dec 01, 2008
AFP

SEOUL, KOREA - South Korea's Hyundai Motor plans to cut domestic production due to slowing demand, following production cuts in its US plants, a company spokesperson said Sunday.

Hyundai Motor, the largest carmaker in South Korea, will cut production by suspending overtime or weekend work at all three of its domestic plants beginning Monday, spokesperson Song Meeyoung told AFP.

All assembly lines, except one producing Avante compact cars and i30 hatchback models at a main plant in Ulsan, will be affected, with daily work reduced from 20 to 16 hours during the weekdays, Song said.

Hyundai refused to confirm local media reports that the carmaker was expected to cut production by 10% as a result of the moves.

Last month, Hyundai said it was reducing production at its US plant at Montgomery, Alabama, because of falling demand amid the economic downturn. The carmaker opened a new factory in the Czech Republic this month to produce its i30 family car.

Hyundai, with its affiliate Kia Motors, is the world's fifth-largest carmaker by sales.

 
[an error occurred while processing this directive]
 
 
Copyright ©2007 Singapore Press Holdings Ltd. Co. Regn. No. 198402868E. All rights reserved.
Privacy Statement Conditions of Access Advertise