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Friday, March 29, 2024

Hyundai sales fell slightly in January

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Korean car manufacturer and exporter Hyundai Asia Resources Inc. reported sales of 2,758 units in January, down 5 percent from 2,903 units year-on-year.

Hari president and chief executive Ma. Fe Perez- Agudo is optimistic the slight downturn will self-correct during the rest of the year.

“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,” she said.

Sales of the passenger car segment declined 29 percent to 1,443 units from 2,036 units a year ago.

Hari said the release of the New Accent would help the segment achieve a consistent demand for the brand’s poplar sedans. The company expects sales of Hyundai passenger cars to eventually increase in the coming months with the recent launch of the Reina. 

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