Vehicle Demand Cliff at Overseas Markets
Hyundai Motor and Kia Motors will again shut down some of their production lines in Korea in June due to a shortage of export orders.
Hyundai Motor's third plant in Ulsan will be closed from June 11-12, while Line 42 of its fourth plant will be closed from June1-5, the automaker announced on May 27.
Kia Motors will close down the first plant in Sohari from June 1-2 and June 8-9 and the second plant from June 1-3 and June 8-11.
Hyundai Motor's third plant in Ulsan manufactures the i30, the Ioniq and the Venue, while its fourth plant in Ulsan rolls out the Porter. "We have decided to suspend operation because of a decrease in export volume," a Hyundai Motor official said. Hyundai Motor's labor and management are also considering closing the first plant in Ulsan. The main reason is a drop in overseas demand for the Kona.
Kia Motors produces the Carnival, the Stinger and the K9 at Sohari Plant 1. Sohari Plant 2 produces the Pride and the Stonic. Gwangju Plant will also close its second plant until June 5. Earlier, Kia Motors decided to close its second plant in Gwangju from May 25-29 due to a decrease in exports of the Sportage and the Soul.