Hyundai Motor says China regulation may hurt car demand
First Published: 11:27 IST(25/7/2013)
Last Updated: 11:46 IST(25/7/2013)
Hyundai Motor expected China's plan to restrict vehicle sales in eight more cities to have a negative impact on demand in the world's biggest auto market, but the market will continue to grow 9% this year, its executive said on Thursday.
"China's auto industry demand continued to expand in the past, even though four Chinese cities already limit car sales," Hyundai Motor's chief financial officer Lee Won-hee said during a conference call.
China's automakers' association said earlier this month that it may soon restrict vehicle sales in eight more cities to curb traffic congestion and pollution.
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