Friday, March 15, 2019
Hyundai Philippines Sales Surge 38.6 Percent in February 2019
Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines reported strong sales for the first two months of 2019, selling 6,537 vehicles of a 16.2 percent increase over the same period in 2018.
The Korean automaker looks to have shaken the negative effects of TRAIN as sales surged by 38.6 percent in February alone to 3,715 units.
“Hyundai felt the love in February as sales substantially increased driven by the successful introduction of fresh and innovative models and a more positive buying sentiment from consumers. We have turned the corner and are optimistic that this trend will continue in the coming months. We aim to end the year on a high note,” HARI President and CEO Ma. Fe Perez-Agudo said.
With the introduction of the New Accent and the Reina, Hyundai’s Passenger Car (PC) segment sales have improved, breaching the 2,000-monthly sales mark, hitting 2,047 units during the shortest month of the year. This is a 4.1 percent growth compared to the 1,966 units sold in the same month last year.
In its first month of its release, the Reina has already contributed to 23.7 percent of Hyundai’s total passenger car sales helping bring the year-to-date PC sales to 3,490 units.
The Light Commercial Vehicle (LCV) segment, meanwhile, continued its higher-than-expected performance, growing by 131 percent in February 2019 with 1,578 units compared to the 683 in the same month of 2018.
The H-100 emerged as the primary driver in this segment as customers bought 1,332 units. Overall, the LCV segment continues to drive the brand’s growth with a total of 2,893 units sold for the first two months of 2019, or an 86.6 percent growth from the same period last year.
Despite being a relatively new player in the Commercial Vehicle (CV) segment, Hyundai’s trucks and buses are becoming known for their toughness, versatility, and cost-efficiency, making them a favorite among business owners. Reinvigorating and supporting the company’s growth trajectory, the total sale of the Hyundai trucks and buses grew 113.9 percent and 190.3 percent for the year-to-date and year-on-year figures, respectively.
“We are encouraged to see more Hyundai commercial vehicles enabling key economic activities such as construction, delivering essential goods, and mass transportation. We aim to further boost nation-building by introducing more efficient and cost-effective vehicles to enable more Filipinos to get more out of life,” Ms. Ma. Fe Perez-Agudo added.