China suspends auto imports from Hyundai, Kia
China has suspended car imports from South Korea's Hyundai and Kia, apparently after complaints they violated anti-trust rules by pressing local dealers to meet sales targets, Hyundai said on Thursday.
By Agencies |
SEOUL: China has suspended car imports from South Korea's Hyundai and Kia, apparently after complaints they violated anti-trust rules by pressing local dealers to meet sales targets, Hyundai said on Thursday.
Hyundai has not received any official notification from the Chinese government and hopes the import ban will be lifted as soon as possible, said Hyundai Motor spokesman Jake Jang.
He said the ban only applies to cars produced in South Korean plants by Hyundai and Kia, which together form the world's fifth-largest carmaker by sales.
Hyundai also produces vehicles at its plants in China but these are unaffected.
Jang told media he presumes the action follows complaints from local dealers that the South Korean companies had pressured them to meet sales targets, violating anti-trust laws.
"We did not pressurise them to meet targets and I'm sure there is some way to resolve this," the spokesman said.
Hyundai has not received any official notification from the Chinese government and hopes the import ban will be lifted as soon as possible, said Hyundai Motor spokesman Jake Jang.
He said the ban only applies to cars produced in South Korean plants by Hyundai and Kia, which together form the world's fifth-largest carmaker by sales.
Hyundai also produces vehicles at its plants in China but these are unaffected.
Jang told media he presumes the action follows complaints from local dealers that the South Korean companies had pressured them to meet sales targets, violating anti-trust laws.
"We did not pressurise them to meet targets and I'm sure there is some way to resolve this," the spokesman said.
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Hyundai exports about 1,500 vehicles a month to China and Kia 800 but each has two to three months of inventory in the country at present. Download
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