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2/3/2020, 7:58 AM (Source: TeleTrader)
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Hyundai to cut output due to coronavirus outbreak

Hyundai Motor Company stated on Monday it plans to suspend some vehicle assembly lines because of the shortages of car parts that are manufactured in China, the country widely affected by the coronavirus outbreak.

Hyundai's Vice President Ha Eon-Tae said that "the company and the union are in talks to decide on what production lines at local plants will be suspended to cope with shortages of auto components from China."

In January, Hyundai reported that its revenue in the fourth quarter of fiscal 2019 went up by 11%, while the yearly revenue jumped 9.3%, beating the estimates.

Breaking the News / ND