China Hyundai dealers seek up to $135 million compensation
BEIJING: A group of Hyundai Motor Co dealers in China is seeking 800 million-900 million yuan ($120 million-135 million) in compensation from the South Korean automaker, saying Hyundai has cut the flow of models it exports to them, resulting in dealership losses and closures.
The group’s leader, Wang Rongzhen, told Reuters on Wednesday that the automaker has scaled back the range of models it supplies to dealers in Hyundai imports in China, only consistently supplying one model, while steadily increasing car manufacturing in China.
“We sell cars+ , if you don’t give us cars, naturally we won’t be able to go on, we’ll close,” Wang said in an interview, estimating import dealers are losing between 3 million and 10 million yuan a year each. The group seeking compensation represents 30 of the roughly 40 remaining imported Hyundai dealers in the country.
According to the China Auto Dealers Chamber of Commerce, which is helping to organise the dealers, Hyundai’s import-only dealer network has already halved in size since 2014.
Now a days, anything to do with rogue China is getting into problem
Sales for Hyundai overall in China fell early this year because of its aging product portfolio but have rebounded since April, driven by the redesigned Elantra sedan. The company plans to finish building its fourth and fifth plant in China by next year.
don”t give a penny to these
hyundai is big in usa canada
China not to e believed
wHEN WILL iNDIA BE THE BIGGEST CAR MARKET OF THE WORLD?
Looks like Hyundai is giving higher priority to India in contract to China.
Naveen Kasyap Kambhatla
Hyundai interested in Make In China to reduce its costs but not Made In Korea
Vishnu Swaroop Kyanam
Why do they need to Import when they have Four Plants in China?
who wants to buy crapppppy tin boxes from Hooondaaay