Hyundai sales in January still in the negative

Sales of Hyundai motor vehicles in the first month of the year still remained negative as sales dipped 5 percent to 2,758 units from 2,903 units in January 2018. The January sales also showed a higher decline of 6.7 percent compared to December 2018 sales of 2,957 units.

Despite a not so encouraging year starter, Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the country, said they are optimistic that sales would rebound in the next months.

“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 Ma. Fe Perez-Agudo.

Of total sales in January, the Passenger Car (PC) segment substantially pulled down overall performance with 29.1 percent decline to only 1,443 units from 2,036 units in January 2018.

HARI President and CEO Ma. Fe Perez-Agudo said that sales in this segment is expected to grow with the launch of its new passenger car model Reina.