Hyundai Motor cuts domestic production
Monday, 1 December 2008
SEOUL, Nov 30 (AFP): 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 today.
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 the agency.
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 per cent 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.
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 the agency.
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 per cent 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.