Slowdown signs - Hyundai Motor to slash output in India
Zee News reported that Hyundai Motor Co will slash production between 25% and 30% at its domestic plants during the Q1 amid falling global demand for vehicles.
Ms Song Mee-young company spokeswoman said that the cut will mostly affect larger vehicles, especially SUVs. Hyundai plans to increase output of small cars as demand for fuel efficient models remains strong.
She said that Hyundai manufactured about 425,000 vehicles domestically during the Q1 last year. She added that the decision was made Friday as a result of a meeting between management and labor on the company's production schedule for the quarter.
However, Hyundai, which along with affiliate Kia Motors Corp forms the world's fifth largest automotive group, exports about 60% of its domestic production.
(Sourced from zeenews.com)
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