Hyundai Motor Group (HMG) this week said it would suspend production at a number of domestic and overseas vehicle assembly plants to help manage inventory as global demand continued to plunge due to the COVID19 pandemic.
Operations at most Hyundai Motor plants in South Korea would be halted between 30 April and 5 May to help the company "maintain inventories at affordable levels" while factories in Brazil, US and India are already under lockdown in line with local government guidance to prevent the spread of COVID19.
Go deeper with GlobalData
On Friday Hyundai said it would extend the suspension of its plant in Brazil by another month, until 26 May.
Operations at the Piracicaba facility, 160km northwest of Sao Paulo city, have been suspended since 20th March.
Kia said it would halt operations at its Sohari and Gwangmyeong plants in South Korea from 27 April until 10 May, and again between 22 and 25 May, to keep stock at manageable levels in response to falling domestic and overseas vehicle demand.
Plants in India, Mexico and the US are also suspended.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
