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Hyundai, Kia slash forecasts

The Korean automakers expect a 12.5% sales dip.

Kia Motors Corp. and its affiliate, Hyundai Motor Co., said they would freeze pay for managers as demand slid.
Kia Motors Corp. and its affiliate, Hyundai Motor Co., said they would freeze pay for managers as demand slid.Read moreSEOKYONG LEE / Bloomberg News