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Hyundai Kia shipping out fewer cars
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February 16, 2009
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Auto shipments by Korea’s Hyundai Motor Co. and its affiliate Kia Motors Corp. to emerging markets plunged last month from a year earlier due to the worsening economic slowdown, company officials said yesterday.
Exports of Korean-built cars, led by Hyundai and Kia, to the Central and South American market fell 71.4 percent to 7,161 vehicles in January, compared with 25,090 units a year ago, they said.
Shipments by Hyundai and Kia to the Eastern European market dropped 64.2 percent on an annual basis to 6,126 units during the same period.
The sharp fall in exports to the two regions can be attributed to the regions’ economies taking a turn for the worse, officials said.
Meanwhile, Hyundai and Kia exported 35,898 vehicles produced in Korea to the North American market last month, down 35.4 percent from a year ago. Yonhap
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