Kia Motors Corporation will temporarily suspend four of its nine domestic plants due to the impact of the coronavirus outbreak.
South Korea's second-biggest carmaker by sales will halt operations at its two Sohari plants in Gwangmyeong from April 27-May 8 and May 22-25.
Furthermore, one of the two plants in Gwangju will shut down: from April 27 to May 8, with the other one from April 27 to 29.
The temporary suspensions are aimed to keep inventories at manageable levels due to lower overseas demand.
Consumers have stopped visiting dealerships due to COVID-19 fears.
The four factories to be temporarily closed manufacture the majority of Kia's exports. One of the Sohari plants builds the Stinger sports car and the K9 sedan and, while the other makes the subcompact Stonic.
One of the Gwangju plants produces the Soul boxcar and the Sportage SUV, while the other creates military vehicles, pick-up trucks, and large buses.
During the suspension, Kia will continue to build trucks and military cars.
Other than its nine domestic plants, Kia also operates three factories in China.
The company's plants in India, the United States, and Mexico are also suspended.
Kia has a total output capacity of 3.84 million units.


US Stock Futures Rise as Investors Eye Fed Minutes, AI Stocks, and Q2 Earnings
Japan Defense Stocks Rally on Report of New Defense Ministry Bureau for Global Cooperation
Asian Stocks Rebound as Tech Shares Rally on Fed Rate Cut Hopes and Easing Iran Tensions
Iran Begins Oil Sale Talks With Japan Under U.S. Sanctions Waiver Amid Shipping Risks
US Stock Futures Slip as Fed Minutes, Earnings Season Take Center Stage
Goldman Sachs Raises USD/JPY Forecast, Sees Yen Weakness Persist Through 2027
New Zealand Consumer Confidence Rises in June as Inflation Expectations Ease
Goldman Sachs Flags 3 Key Risks Ahead of Europe’s Earnings Season
Asia Stocks Fall as Samsung Earnings Fail to Ease AI Valuation Concerns
China Services PMI Beats Forecasts as Strong Demand Supports June Growth
Brazil to Phase Out Gasoline Subsidy First as Diesel Support Stays Longer
Moody’s Says Peru’s President-Elect Keiko Fujimori Could Boost Investor Confidence
Gold Price Today: Gold Slips as Dollar Rebounds Ahead of Fed Minutes
Asian Markets Slip as AI Earnings Season Looms, Oil Prices Fall Ahead of Key Fed Signals
Oil Prices Rise as Strait of Hormuz Risks Offset OPEC+ Supply Increase
Denmark Central Bank Intervenes to Support Krone Peg Against Euro
Dollar Rebounds as Euro, Pound Slip Ahead of Fed Minutes, Yen Near Intervention Zone 



