Hyundai Motor Co and sister firm Kia Motors Corp have replaced three China executives after sales slumped.
July Sales for Hyundai and Kia fell by 32 and 33 %, respectively, from a year earlier.
Hyundai shipments in China, the world’s largest auto market, fell 14 % 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 %, while Kia slashed the price of two SUVs by up to 30 %.