Strike and vacation hit Hyundai, Kia sales


  • Business
  • Thursday, 02 Aug 2012

SEOUL: South Korean carmaker Hyundai Motor saw its monthly global sales expand at its slowest pace in 16 months in July, as two-day, partial walkout by its domestic factory workers, along with summer vacations, hurt production.

Hyundai Motor, the world's fifth-biggest carmaker along with Kia Motors, posted a 3.1% rise in sales at home and abroad in July from a year earlier, the lowest gain since March 2011 when the growth rate was 1.7%.

Hyundai and Kia Motors also saw their overseas sales fall to their lowest levels in 11 months.

Workers at Hyundai Motor in South Korea staged their first strike in four years on July 13 and July 20 as annual wage talks stalled amid disagreements over scrapping overnight shifts and other matters.

South Korean factory workers at Kia Motors and General Motors also joined the two-day partial walkouts led by umbrella Metal Workers Union. GM's Korean unit saw its sales fall 9% here and overseas in July.

Auto industry wage negotiations have been adjourned for the summer vacation which for Hyundai is from July 29 to Aug 5.

Domestic sales of Hyundai and Kia also remained sluggish, with their sales remaining almost flat from a year earlier at their captive, home market. Reuters

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

CPO futures likely to see technical correction next week
Evergrande says six execs redeemed investment products in advance
Infineon opens Austria plant early in chip capacity boost
Indonesia may reopen to tourists from some countries in October
Airbus reaches deal to restructure AirAsia jet order
Oil price falls as storm-hit US supply trickles back into market
World shares fall as markets await Fed meeting, taper timeline
Gadang’s subsidiary bags RM100mil deal
Big sales jump for EcoWorld Malaysia in Q3
The 18th entry

Stories You'll Enjoy


Vouchers