MANILA -- Sales of Hyundai vehicles in the Philippines declined by 6 percent in 2018 to 35,401 units from 37,678 units in 2017.
Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the country, reported Monday that sales of its light commercial vehicles mitigated the drop in its total sales last year, however.
Its light commercial vehicle segment sold a total of 15,490 units in the previous year, 27.5 percent higher than the 12, 149 unit-sales in 2017.
“Amidst the uncertainty faced in the automotive industry for the year, Hyundai has proven itself weather the odds and exceed expectations,” said HARI President and Chief Executive Officer Ma. Fe Perez-Agudo.
On the other hand, sales of its passenger cars fell 22 percent to 19,905 units in 2018 from 25,529 units in 2017.
Despite the decline last year, Perez-Agudo said HARI is optimistic about its sales prospects for 2019.
“The economic landscape shows to be more optimistic, you can expect more from us in 2019,” she added.
The executive noted that HARI is poised to take advantage of the easing inflation, strong investments, and boost in spending during this election year. (PNA)
