SKorea's Hyundai Motor cuts domestic production
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 percent 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.