Hyundai Speeds Up China-Only SUV Amid Squeeze From Beijing-Seoul Spat
- Retail sales of Beijing Hyundai fell 30% in first two months
- Automaker cuts output, inventory to ease pressure on dealers
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Hyundai Motor Co. and its Chinese partner plan to speed up the introduction of a China-only SUV model to draw in buyers after South Korea’s planned deployment of a U.S. missile shield hurt consumer sentiment in its biggest market.
South Korea’s largest automaker will sell three new models including the SUV and upgrade some existing ones this year, BAIC Motor Corp., Hyundai’s Chinese partner, said in a statement on Thursday. The local joint venture, Beijing Hyundai, cut production and supply to ease pressure on dealers after retail sales fell 30 percent in the January-to-February period, it said.