Hyundai, Kia replace two overseas execs after Q1 sales falter

April 8, 2015 10:10 AM

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SEOUL, April 8 (Reuters) - Hyundai Motor and its affiliate Kia Motors have replaced two senior overseas executives, the parent group said on Wednesday, after the South Korean automakers posted lacklustre first-quarter global sales.

The change came as the companies, which together rank fifth in global sales, are expected to report weak first-quarter earnings later this month as they boosted incentives in the key U.S. market to revive sluggish demand for sedans and battle Japanese rivals backed by a weaker yen.

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