Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, registered a 1-percent year-on-year increase in automotive sales in the fourth quarter of 2015.
According to HARI, the company's Q4 sales tipped at 5,355 units from 5,326 units in the same period last year. However, Hyundai's full year (FY) 2015 sales yielded 22,058 units, down by 4-percent from the 23,019 units sold last year.
Despite the 4-percent drop in sales, HARI president and CEO Ma. Fe Perez-Agudo remains optimistic for 2016.
“Hyundai prospects for 2016 are bright with the country’s very optimistic economic and industry outlook and the forthcoming benefits of the ASEAN-Korea Free Trade Agreement (AKFTA). And we look to delight our customers even more with our upgraded lineup of portfolio Modern Premium products and services,” said Perez-Agudo.
HARI said that the brand's Passenger Cars (PC) segment finished with a 10-percent increase in Q4 sales. On the other hand, the Hyundai's total Q4 sales of Light Commercial Vehicles (LCV) dropped by 23-percent.