Despite expressing concerns over the health of the US light vehicle market Hyundai Motor is satisfied with sales levels in the United States and has no plans to cut production at its factory there, a top executive said.
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“US sales results for March were good,” Hyundai Vice Chairman Kim Dong-jin was quoted Monday by the carmaker as saying, AP reported. “The situation is very favourable and encouraging.”
He added that “there is no such plan” to lower output.
Kim also said that despite higher costs for raw materials, Hyundai has no plans to raise vehicle prices.
He said that raw material costs have increased by about 500,000 won (USD500) per vehicle.
“We’re very anguished,” he reportedly said, when asked how Hyundai planned to fill that gap. AP said that he emphasised that price increases were not in the cards.
