Thursday, March 13, 2014
Hyundai Philippines Sales Up 9 Percent as of February
Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, enjoyed a promising 9% growth as of February ending year-to-date sales of 3,953 units against year-ago levels of only 3,624 units. In February alone, sales increased by 5% to 1,710 units.
Despite fierce competition, Passenger cars (PC) segment racked up an impressive 41% growth in February, bringing its tally to 1,164 units sold versus 825 units sold the same period last year. Maintaining its positive streak, Eon provided major sales lift in the segment and witnessed a remarkable 320% growth year-on-year. The subcompact’s strong showing was in tandem with the successful entry of Hyundai’s newest offering, the Grand i10.
Turning out weaker than the expected, the Light Commercial Vehicle (LCV) segment sales during the month stood at 546 units as against 807 units, down by 32%, from the year-ago period. However, marked by its bigger size, storm edge design and powerful engine, the entry of the luxurious Grand Santa Fe showed encouraging signs of recovery for the LCV front.