Hyundai PH Sales Slowdown in January 2019
Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the country sold a total of 2,758 vehicles for the first month of 2019. January sales showed a 5.0 percent and 6.7 percent dip on the year-on-year and month-on-month periods, respectively.
The Passenger Car (PC) segment is on a transition phase and declined by 29.1 percent from 2,036 units sold in January 2018 to 1,443 units in January 2019. The release of the all-new Hyundai Accent buoyed the segment to maintain a consistent demand for the brand’s poplar sedans. It will be expected that sales of Hyundai passenger cars will eventually grow in the coming months counting on the recent launch of the Reina.
On the other hand, the Light Commercial Vehicle (LCV) segment experienced a significant growth by 51.7 percent, from 867 units in January 2018 to 1,315 units in the same period of this year. The addition of the Hyundai Kona and the heightened demand for the Hyundai H-100 has bolstered the segment’s performance.
“The outlook for the Philippine automotive industry remains optimistic as macroeconomic headwinds begin to ease. Hyundai stands resolute as it brings in new and market-leading products to take advantage of the opportunities laid out in 2019,” said HARI President and CEO Maria Fe Perez-Agudo.