Hyundai Motor Co is to suspend daily overtime from December at some of its domestic lines as demand wanes.
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The largest automaker in South Korea has already stopped weekend overtime at most of its domestic lines.
Speaking to Reuters, a spokeperson for the company said: “We decided to adjust production volume to deal with faltering demand.”
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By GlobalData
The Korea Automobile Manufacturers Association (KAMA) has forecast that car sales in South Korea will decline by 8% in 2009.
KAMA said it expected new car sales next year to reach 1.1m units compared with 1.2m this year.
“The local auto industry has recently been facing a sharp slowdown in sales as the global economic downturn dampens the economy,” KAMA said in a statement.
