SEOUL/BEIJING—Hyundai Motor said its Chinese joint venture (JV) is accepting voluntary retirements and reviewing various “optimization plans” at its factories following a slump in car sales in the key market.
China saw its first auto sales contraction in more than two decades in 2018 as pressure from a crippling trade war with the United States and the phasing out of tax cuts on smaller cars pummeled business in the world’s biggest car market.
