Hyundai Motor Co is considering suspending its first Chinese plant, two sources familiar with the matter said on Wednesday.
SEOUL: Hyundai Motor Co is considering suspending its oldest plant in China, it said on Wednesday, as the South Korean automaker reels from tumbling sales and massive overcapacity in its biggest market.
South Korea's Korea Economic Daily reported earlier that the company will suspend its first factory in China as early as next month. For Hyundai, troubles have been exacerbated by a diplomatic row between Seoul and Beijing that had slammed demand for South Korean products in China.A lack of attractive models and strong branding makes Hyundai vulnerable to competition from both Chinese and global car makers, analysts and dealers have said.
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