Search CarGuide.PH

Friday, June 4, 2021

Hyundai Overtakes Foton To Take 3rd In Truck Sales


Hyundai Asia Resources Inc., or HARI announced that it has now climbed to a podium spot in the commercial vehicle (CV) segment. Based on April year-to-date (YTD) data, Hyundai is now the third best-selling CV brand behind Isuzu and Hino.

The CV industry’s total trucks and buses sales grew by 72 percent with reported sales at 3,720 units. From here, HARI cornered a significant chunk of the market pie at 19.1 percent with sales of 711 units, elevating the brand to top 3.

In the truck segment, the top 3 categories of trucks: Cat. III, Cat. IV-A, and Cat. V, comprise 94 percent of the total truck segment, contributing market shares of 58 percent, 24 percent, and 12 percent, respectively. HARI is likewise at the third spot in this segment with an 18.1 percent market share and sales of 658 units. Hyundai offers the HD36L Maxculado, HD65 and HD65X, and Xcient trucks in the Cat. III, Cat. IV-A, and Cat. V, respectively.

Meanwhile, bus segment sales continue to be challenged due to the current travel restrictions. However, it still showed promises for Hyundai. 89 percent of its sales in the segment when to Cat. IV-A buses, where they hold a 76.5 percent market share (52 units sold). In this segment, Hyundai offers the County which holds a commanding 43-unit lead over the Toyota Coaster.

“We welcome this new achievement of Hyundai Trucks and Buses in the Philippines as a big win, not only for us at HARI and our dealer network, but even more inspiringly, this is a triumphant milestone for Filipino entrepreneurs, because of their boldness to keep on going by partnering with brands like Hyundai to help move the economy for the better in every way possible,” said HARI President and CEO, Ms. Ma. Fe Perez-Agudo.

No comments:

Post a Comment

Feel free to leave your comment or share your views. Comments that are derogatory and/or spam will not be tolerated. We reserve the right to moderate and/or remove these comments.