As we ushered in a brand new year, Hyundai Asia Resources Inc. reports how its Passenger Car and Light Commercial Vehicles fared during the first month of 2019. HARI reports a dip in year-on-year and month-on-month sales of 5 percent and 6.7 percent, respectively. Sales were pegged at 2,758 units during the said period.
The Passenger Car segment took a hit as sales slowed down by as much as 29.1 percent.to 1,443 units for January. This is down from January 2018’s 2,036 cars sold. The bulk of sales were made up of the new Accent that entered the market late last year. HARI, however, expects this figure to pick up in the coming months with the recent introduction of its newest budget subcompact, the Reina.
It was the Kona and H-100 that helped the Light Commercial Vehicle sector grow by a whopping 51.7 percent in January 2019. From 867 units in the first month of 2018, sales grew to 1,315 units for the same period this year. And HARI expects this growth to continue during the year.
With a whole year ahead of us, expect to see sustained growth from Hyundai in the Philippines.
