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Hyundai Motor records lowest Q1 operation rate in 5 years
By Korea HeraldPublished : July 14, 2016 - 14:45
The carmaker’s regulatory filings showed that its domestic capacity utilization rate came in at 98.4 percent, down from 104 percent recorded in the same period last year. Hyundai Motor’s first-quarter capacity utilization rate has hovered between 99.6 percent and 104 percent since 2012.
The company attributed this year’s drop to sluggish global demand, and increasing overseas output.
The dropping output, coupled with slowing domestic economy and the union’s strike plans, is expected to bring down Hyundai Motor’s sales this year.
By Choi He-suk (cheesuk@heraldcorp.com)
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Articles by Korea Herald
