ID :
37942
Tue, 12/30/2008 - 11:18
Auther :
Shortlink :
http://m.oananews.org//node/37942
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Hyundai Motor cuts output, 2,000 jobs in India
SEOUL, Dec. 29 (Yonhap) -- Hyundai Motor Co., South Korea's top automaker, said Monday it has slashed production at its Indian plant by as much as 25 percent amid sinking demand for new vehicles.
Since Monday, Hyundai's Indian plant has worked for 16 hours in two shifts a day, down from a previous 23 hours in three shifts, an official at Hyundai said.
The Hyundai official didn't say for how long the company will continue to cut production in India, adding some 2,000 local contract workers have their contracts renewed.
Hyundai saw its vehicle sales plunge 23.3 percent from a year earlier to 14,605
units last month in India.
Separately, Hyundai said it has started selling its i20 compact cars in India,
its second Indian-made car there.
Hyundai's Indian plant aims to sell 12,000 i20 cars in India and export 122,000
units next year, the company said in a statement.
(END)
Since Monday, Hyundai's Indian plant has worked for 16 hours in two shifts a day, down from a previous 23 hours in three shifts, an official at Hyundai said.
The Hyundai official didn't say for how long the company will continue to cut production in India, adding some 2,000 local contract workers have their contracts renewed.
Hyundai saw its vehicle sales plunge 23.3 percent from a year earlier to 14,605
units last month in India.
Separately, Hyundai said it has started selling its i20 compact cars in India,
its second Indian-made car there.
Hyundai's Indian plant aims to sell 12,000 i20 cars in India and export 122,000
units next year, the company said in a statement.
(END)
