Sunday, May 18, 2014
16 Percent Growth in Passenger Cars Kept Hyundai Sales Steady in April
Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, saw its Passenger Car (PC) segment rallied for the first four months of the year with 16% growth in sales. The PC segment’s solid performance has helped Hyundai to keep sales steady in April despite the brand’s delicate LCV sales performance. Sales reached 1,646 units in April alone, reflecting 2% growth versus comparable period last year. Year-to-date, Hyundai’s sales reached 7,629 units, up by 1% from same period last year.
Contributing to the modest growth is Hyundai’s bestselling model Eon with total sales of 491 units for the month of April, up by a 149% over a year ago. This was followed by sustained performance from Accent, which registered 31% growth in April sales to 451 units. The output of the two models bolstered the brand’s passenger cars to grow by 9% in April.
However, the PC segment’s exceptional performance was not enough to offset frail sales of the Light Commercial Vehicle (LCV) segment. LCV sales slipped by 7% this year from 645 units April last year to 600 units sold this year. Weak sales performance brought LCV’s cumulative sales to 2,579 units, down by 19% from same period last year.