Hyundai may miss August and September sales targets due to strikes

Article by Anita Panait, on August 31, 2012

Hyundai Motor Co. may fail to achieve its sales target in September due to labor strikes at its South Korean plants, a company executive with direct knowledge of the sales told Reuters. Hyundai’s employees at its South Korean plants, which build almost half of its vehicles sold around the world, initiated a series of partial strikes and refused to work overtime for five days in July and 21 days in August.

The walkouts were the first strikes to hit Hyundai in four years. Hyundai may also fail to achieve its sales target for its South Korean home market, which accounts for around 15 percent of the carmaker’s total sales, in August, the company executive added to Reuters.

The company executive, however, said that Hyundai, as well as its affiliate Kia Motors, will be able to reach its sales target for the full year of 2012 since they could make up lost production with extra work later in the year. The company executive did not specify how much of Hyundai’s output will be lost due to the strikes as well as the carmaker’s sales target for August and September 2012. 

As of Tuesday, the strikes at Hyundai resulted to a production loss of 74,618 vehicles worth KRW1.55 trillion ($1.36 billion).  Hyundai’s union is set to hold another partial strike this week while holding another round of wage discussions with the management. The carmaker lost KRW1.6 billion in lost production when workers held a series of strikes in 2006.

Topics: hyundai, sales, strike

If you liked the article, share on:

Comments

Recommended

South Korean carmaker Kia will try to follow up the success of its Sportage compact sports utility vehicle by introducing a smaller SUV (subcompact) in the United Kingdom in the...
by - October 18, 2017
It can no longer be denied that Jaguar Land Rover wants to design some more hardcore type versions of their SUV range --- soon after launching the Discovery SVX only...
by - October 18, 2017
Motorists in the United Kingdom who intend to purchase the new 2018 Hyundai Kona subcompact sports utility vehicle could start placing their orders on November 2, 2017. Marked by Hyundai...
by - October 18, 2017
For many years, Lamborghini has always relied on the use of large and powerful engines including the V10 and the V12. In fact, the company’s very first engine in the...
by - October 17, 2017
You can now get the Opel Crossland X that’s LPG-powered if you are not a fan of diesel. Recently, the company released their version of the Peugeot 2008 equipped with...
by - October 17, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries