Economics
Hyundai Is Caught in a Perfect Storm in China
- Consumers reject Korean carmaker, turn to other foreign makers
- Koreans watching Japanese carmakers’ 2012 troubles for lessons
Chinese Consumers Reject Hyundai, Chose Other Car Makers
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These are lean times for Hyundai dealers in China.
On a recent weekday afternoon in Shanghai, shoppers thronged Honda and Chevrolet showrooms at a strip of city dealerships. Hyundai’s, however, was a ghost town. A half-dozen salespeople stood around with nothing much to do. Not a single customer had set foot in the store the previous weekend, and half the employees this year have already quit, according to a manager who declined to give his name citing company policy.