The first Prada designed Genesis Sedan will be unveiled at next year’s Seoul Motor ShowEnlarge Photo
The Chinese government has reportedly suspended the majority of vehicle imports from South Korea following a complaint made by several Chinese dealers that Hyundai-Kia is backing its own dealer groups at the expense of independent firms. The decision comes after the filing of a petition against Hyundai-Kia made by several Chinese dealers who are complaining that the South Korean carmaker had violated anti-trust laws.
The import ban applies only to those Hyundai-Kia models imported from South Korea and will not affect the carmaker’s vehicles that are produced in China. Hyundai and Kia sell more than half a million vehicles each year in China but only about 50,000 of these are imported from South Korea. The vast majority are manufactured locally via joint-ventures with a number of Chinese firms.
A spokesman for the Chinese government confirmed to Reuters
that the import permit was canceled last month and that negotiations with the carmaker were already underway to settle the issue. A Hyundai-Kia spokesman also confirmed the ban, stating that the company had not received import permits since mid-September.
The latest turn of events will come as a blow to the South Korean carmaker, which is currently in the process of positioning its Hyundai label as a premium offering in China
with vehicles like the new Genesis Sedan
and upcoming Coupe