Hyundai Motor Co, which is reeling from tumbling sales in China, is considering ...
FILE PHOTO: Hyundai cars are seen at a plant of Hyundai Motor Co on the outskirts of Beijing, China January 25, 2019. REUTERS/Jason Lee/File Photo
Lee made the comments at a meeting with analysts and investors on Wednesday, the people who attended the event told Reuters. A Hyundai Motor spokeswoman said that the automaker is “reviewing various optimization plans to enhance facility efficiency” and has begun voluntary retirement for employees in China.
Hyundai’s China sales sank 23 percent in the fourth quarter amid a lack of attractive models and strong branding in the face of competition from both Chinese and global car makers.
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