Tuesday, April 15, 2014
Hyundai Philippines Posts 19 Percent Growth in March 2014
Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, experienced 19% growth in March to a total of 2,030 units compared to February sales of only 1,710 units. March’s gains pushed three-month sales to grow modestly by 1% to 5,983 units from last year’s first quarter sales of 5,951 units.
Hyundai’s month-on-month strong performance was buoyed by stellar growth from both Passenger Car (PC) and Light Commercial (LCV) segments. Leading the over-all charge was the PC segment with March sales of 1,393 units and year-to-date sales of 4,004 units, translating to growth of 20% and 18% respectively. A strong finish to Elantra and Accent sales in March helped propelled growth in the segment. Bouncing back from its steady decline, Elantra experienced 30% growth in March with sales of 112 units. Meanwhile, Accent posted a laudable 89% growth bringing its month sales tally to 600 units.
Despite delays in stock arrivals, Light Commercial Vehicles racked up its sales to a total of 2,030 units, up by 19% versus February sales of only 1,710 units. Boosting the LCV grip, both Hyundai’s premium models Grand Starex and Tucson notched up an impressive sales growth of 42% and 14% compared to its February sales performance.