SOUTH KOREA: Hyundai concern over more China sales restrictions
Hyundai’s chief financial officer Lee Won-hee said China's plan to restrict vehicle sales in eight more cities is likely to have a negative impact on demand in what is now the world's biggest car market - but he still expects growth of 9% there this year.
Hyundai’s chief financial officer Lee Won-hee said China’s plan to restrict vehicle sales in eight more cities is likely to have a negative impact on demand in what is now the world’s biggest car market – but he still expects growth of 9% there this year.
China’s automakers’ association said earlier this month that it may soon restrict vehicle sales in eight more cities to curb traffic congestion and pollution. Currently, restrictions, which include proof that an old model has been scrapped or moved out of the region, apply in four major cities.
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