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Hyundai and Kia, which together are the world's fifth-largest
automaker by sales, saw their July China sales fall by 32 and 33
percent, respectively, from a year earlier.
Hyundai shipments in China, the world's largest auto market,
fell 14 percent in the second quarter, weighing on its
second-quarter earnings.
The group said Lee Byung-ho was made head of Hyundai's main
joint venture in China, while Kim Gyun was put in charge of
Kia's China joint venture. Tan Tao-Hung was named head of China
business strategy for both automakers, and will be based in
Seoul, the group said. Their predecessors were reassigned to
advisory roles, the group said.
Earlier this month, Hyundai cut the price of two sport-utility
vehicle (SUV) models in China by as much as 11.8 percent, while
Kia slashed the price of two SUVs by up to 30 percent.
(Reporting by Sohee Kim; Editing by Tony Munroe and Anand Basu)
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