(MENAFN) Shares of Hyundai Motor Co. and its associate Kia Motors Corp. have sunk on Monday as the US investigate into airbag-related accidents raised worries over potential recall costs for the carmakers.
The US National Highway Traffic Safety Administration (NHTSA) and the company are looking into why the two carmakers' airbags failed to function in Hyundai Sonata sedans and some Kia Forte compacts that were involved in six crashes.
Shares of Hyundai Motor dropped 3.81 percent to 151,500 won on Monday, while Kia Motors dropped 3.53 percent to 31,400 won, both underperforming the broader KOSPI's 0.76 percent loss.
Jointly forming the world's fifth-biggest carmaker by sales, Hyundai and Kia sold a total of 163,637 vehicles in the US in the January-February period, down 8 percent from 177,826 units a year earlier.
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