Hyundai Faces Higher Steel Costs

Discussion in 'General Motoring' started by sjmmail2000-247, Mar 14, 2008.

  1. sjmmail2000-247

    sjmmail2000-247 Guest

    Bloomberg reports that Hyundai's been hit hard by rising steel prices. Apparently, China's Olympic building boom is causing localized shortages and driving up prices. Rising raw materials costs cut especially deep for the value-minded Hyundai brand, who can ill-afford the hike. "The higher prices come at a difficult time,'' says Mirae Asset Securities analyst Kim Jae Woo. "Hyundai won't be able to pass on the higher costs to customers as the slowing global economy is already damping auto demand....
    Read More: http://www.thetruthaboutcars.com/news-blog/hyundai-faces-higher-steel-costs/
     
    sjmmail2000-247, Mar 14, 2008
    #1
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