A Hyundai Motor executive reportedly said on Thursday high raw material prices were expected to cost the company and its affiliate, Kia Motors, an additional 850 billion won ($US730.2 million) this year.


According to Reuters, Hyundai executive vice president Kang Moon-chull said the extra cost would account for about 4% of a combined 22 trillion won of production costs the two companies had assumed for this year.

Just Auto Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Auto Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now