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Blindsided by SUV boom, Hyundai Motor trims costs and perks

The belt-tightening aims to buy Hyundai time to prepare new models and a design revamp.


HEADED for a fourth straight annual profit decline, Hyundai Motor is trimming its cost fat; scaling back on business-class flights and annual family home trips for overseas employees, executives told Reuters.

The South Korean automaker has been hit by its exposure to weak...

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