December 2, 2008
Hyundai to cut foreign production
South Korea's Hyundai Motor Co. will reduce production at overseas plants to adjust to slowing demand, a union spokesman said.
Hyundai has already cut production in seven Korean plants by 10 percent, Yonhap News reported Tuesday.On Monday, the domestic plants halted overtime on weekdays, a move that follows a previous decision to cut out weekend overtime, Yonhap reported.
But the company, which has plants in China, India, Turkey and the United States, told the union it would cut production
at all its overseas plants, union spokesman Chang Kyo-ho said at a Hyundai plant in Ulsan, South Korea.
The spokesman did not say how much production would be curtailed.
Hyundai's sales fell to 234,211 vehicles in November, down 1.6 percent compared with November 2007, Yonhap reported.