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Hyundai, Kia continue to suffer setbacks in China amid THAAD woes

2017/10/19 11:36

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SEOUL, Oct. 19 (Yonhap) -- Hyundai Motor Co. and its affiliate Kia Motors Corp. said Thursday they posted a 20-percent on-year drop in China sales last month amid an extended diplomatic row over the deployment of an advanced U.S. missile defense system in South Korea.

The two Korean carmakers, which together form the world's fifth-biggest carmaker by sales, sold a combined 125,043 vehicles in China in September, down from 159,192 units a year earlier, the companies' sales data showed.

Declining demand from China, triggered by Seoul's decision last year to install the Terminal High Altitude Area Defense (THAAD) system on the Korean soil, has continued to affect the carmaker's sales this year.

China has halted the sales of tour packages to South Korea since March and penalized other manufactured goods in apparent retaliation against the installation of the THAAD system.

Seoul and Washington maintain THAAD is purely aimed at countering missile threats from North Korea. But Beijing has opposed the system, arguing it could be used against it.