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KIA motor (000270.KS), a modern automobile and group company, once ranked third in China. But when Hyundai opened its fifth factory in China last year, a diplomatic dispute broke out between China and South Korea. Chinese consumers boycotted Korean products and hit Hyundai's sales volume and brand image badly.
"The recovery of China's sales will take time. Hyundai needs a plan to save the nation and survive, "said a source who was directly informed of Hyundai's operations in China. The message was not named because it was not authorized to speak to the media.
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Hyundai Motor Corp. (005380. KS) plans to ship its cars made in China to Southeast Asia for sale after a slump in Chinese sales has left most of Hyundai's local production capacity idle, people familiar with the matter told Reuters.KIA motor (000270.KS), a modern automobile and group company, once ranked third in China. But when Hyundai opened its fifth factory in China last year, a diplomatic dispute broke out between China and South Korea. Chinese consumers boycotted Korean products and hit Hyundai's sales volume and brand image badly.
"The recovery of China's sales will take time. Hyundai needs a plan to save the nation and survive, "said a source who was directly informed of Hyundai's operations in China. The message was not named because it was not authorized to speak to the media.
