Reuters logo
Hyundai, Kia say weaker China sales likely impacted March overseas sales
April 3, 2017 / 9:20 AM / 8 months ago

Hyundai, Kia say weaker China sales likely impacted March overseas sales

SEOUL, April 3 (Reuters) - South Korea’s Hyundai Motor Co and Kia Motors Corp on Monday said “weaker sales in China” likely had an impact on overseas sales in March, when a diplomatic row over a missile system led to a rise in anti-Korean sentiment.

“We have seen a recent drop in dealership traffic in China as consumer sentiment towards Korean products overall is low and competitors are initiating special promotions targeting our customers,” the two said in a joint statement.

The pair earlier on Monday posted on-year declines in overseas sales for March, without disclosing a country-by-country breakdown.

Hyundai Motor suspended production at one of its Chinese plants from March 24 to April 4, fuelling concern that diplomatic tension over Seoul’s deployment of a U.S. missile defence system may be hurting sales of South Korean automakers. (Reporting by Hyunjoo Jin)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below