Home GRASP GRASP/Korea Hyundai and Kia Motors China Sales Suffer due to THAAD Tension: Report

Hyundai and Kia Motors China Sales Suffer due to THAAD Tension: Report

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The THAAD impasse continues to take a toll on South Korean companies operating in China. The latest to bear the brunt is Hyundai Motors and its sister company Kia Motors, which has been forced to cut down on its production target in the Chinese markets due to a…
The THAAD impasse continues to take a toll on South Korean companies operating in China. The latest to bear the brunt is Hyundai Motors and its sister company Kia Motors, which has been forced to cut down on its production target in the Chinese markets due to a slump in sales.
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South Korea’s Yonhap News Agency claims that the combined sales of Hyundai and Kia Motors in the Chinese market halved by nearly 52 percent in March from a year earlier. The massive drop in sales will not just affect the two auto companies, but also the South Korean local suppliers.          
Hyundai and Kia are yet to officially comment on this report. But the fact that Chinese authorities have been openly targeting Korean companies after the THAAD fallout gives a lot of credence to this report.  
Last month, a South Korean-based news website reported that Hyundai decided to temporarily shut down a manufacturing plant at Guangzhou town in Hebei Province for maintenance purposes.

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