Hyundai India too cutting production as demand is low

Hyundai India too cutting production as demand is low

Hyundai India has announced that they are going to cut their production as the demand in the market is low.

The company is planning to cut production by up to a quarter from Monday.

Hyundai India managing director H.S. Lheem said in a statement: “We have decided to go in for a two-shift production instead of three shifts now as demand has declined.”

They are also considering raising the prices of their models by around 2% as raw material costs have gone up in the recent times.