Hyundai to slash domestic output amid global slump

Hyundai Motor Co, South Korea's largest automaker, will slash production between 25 percent and 30 percent at its domestic plants during the first quarter amid falling global demand for vehicles, the company said Monday. The cut will mostly affect larger vehicles, especially SUVs. Hyundai plans to increase output of small cars as demand for fuel-efficient models remains strong, company spokeswoman Song Mee-young said.
Hyundai manufactured about 425,000 vehicles domestically during the first quarter last year, she said. The decision was made Friday as a result of a meeting between management and labour on the company's production schedule for the quarter, she said.