· Hyundai Kia integrates sales and production operations in China to enhance competitiveness
According to a report sent by the Yonhap News Agency from Seoul on June 21, in response to the increasingly fierce competition in the Chinese market, Hyundai Motor Group, the largest auto group in Korea, has divided the production and sales departments of Hyundai and Kia Subsidiaries into the same business unit.
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According to people familiar with the matter, Hyundai China headquarters is responsible for the production and sales of Hyundai Motor Group in China, and is also responsible for the operation of the modern subsidiary Kia (China) in Greater China.
Since July 2014, the production and sales of Hyundai and Kia's two companies in China have been operating independently. Modern business restructuring is seen as a wave in the economic downturn of neighboring countries. According to the latest data, in the first quarter of this year, Hyundai Motor's cumulative sales in China was 229,011 units, a decrease of 18.2% compared with the same period of last year; Kia's sales volume was 138,292 units, down 10.4% year-on-year. Although the joint sales of the two companies in China still declined in March this year, the rate of decline has slowed significantly, and the signs of rebound are very obvious.
China is one of the most important markets for export-oriented Hyundai and Kia Motors. However, due to the sluggish market for several months, the overseas sales of the two companies have had a great impact.