Hyundai in trouble with the Chinese…
October 21, 2008
As Reuters states, Hyundai is in trouble in China. The manufacturer’s products are banned for import from the South Korean plants. There is an antitrust case against the Korean Carmaker that it supports the Company based showrooms more than the independent dealers. The spokesmen at Hyundai tell that they did not get an import permit since mid-September. But there are talks about resolving the matter between Hyundai and the Chinese Government.
It does hurt a little bit of the import sales of the company, as a small percentage of 9% that come by import i.e. 50,000 of the total annual sales of 520,000 cars of Hyundai and Kia in China. The rest is still being easily manufactured in China in collaboration with local manufacturers.
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