Hyundai and Kia Scrap Pickup Truck Plans

Crumbling pickup truck sales and rising gas prices have led Hyundai and its affiliate Kia to abandon (for now at least) their plans to build pick-up trucks in the U.S. “Because of high oil prices, the light-truck market has been declining,'” Kim Dong Jin, Vice Chairman of the Hyundai Motor Group said in an e-mailed statement today. “We don't think it's the right time.” -Continued

As for Kia’s new Georgia plant where the two Korean carmakers considered building their pickup trucks, the company now says that it will be used to produce the revamped Sorento SUV.

Via: Bloomberg