Hyundai U.S. CEO: We Can't Build Cars Fast Enough

By: Associated Press
By: Associated Press

ANN ARBOR, Mich. (AP) -- Hyundai's top U.S. executive says the company's factories have reached their maximum capacity and can't build enough cars to satisfy growing demand.

American CEO John Krafcik says the lack of factory space is costing the company sales in the U.S.

But he says Hyundai has no plans to build more factory space at present. Instead, it's taking a two-year break to focus on quality and customer satisfaction.

Hyundai's sales are up only 1.9 percent in the first half of this year. But total U.S. auto sales rose 8.4 percent.

Hyundai could miss out on more growth in the future. Industry analysts predict total U.S. sales of up to 15.5 million this year and nearly 16 million next year.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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