Industry News
Hyundai Sales Record Slowdown in January |
Hyundai Asia Resources, Inc. reported that it has sold a total of 2,758 vehicles for the first month of 2019. January sales showed a 5.0% and 6.7% dip on the year-on-year and month-on-month periods, respectively.
As released by Hyundai, the Passenger Car segment is on a transition phase and declined by 29.1% from 2,036 units sold in January 2018 to 1,443 units in January 2019. However, the release of the New Accent kept the segment to maintain a consistent demand for the brand's sedans. Hyundai expects their passenger car sales to eventually grow in the coming months with the recent launch of the all-new Reina.
On the other hand, the Light Commercial Vehicle segment experienced a significant growth by 51.7%, from 867 units in January 2018 to 1,315 units in the same period of this year. The addition of the Kona and the heightened demand for the H-100 has bolstered the segment's performance.