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Hyundai Motor, South Korea’s top automaker, its slashed global production target by 17% in the Q1 from a year ago, a local online media outlet reported on Thursday.
Hyundai plans to produce 590,000 vehicles at home and abroad in the first three months of the year, compared to 712,000 units a year earlier, an internet news provider eDaily said, citing industry sources. Last week, Hyundai said it planned to cut production at its domestic plants by 25-30% during the first quarter. (Reuters)