Hyundai Asia Resources, Inc. sold 2,981 units last November, or a 4.4 percent growth versus October’s 2,856 units. This is the exclusive Philippine Hyundai distributor’s third highest monthly sales in 2019.
Despite its strong monthly performance, year-to-date sales are still down 6.9 percent compared to the same period in 2018. Regardless, the company managed to breach the 30,000-sales mark hitting 30,559 units. Moreover, HARI is confident that December sales will surpass the 3,000-sales mark.
“December is historically a good month for HARI due to increased consumer spending. Coupled with lower interest rates and inflation, we expect our sales to be further bolstered. Beyond these factors, our main drivers remain the quality, reliability, and ease of maintenance of Hyundai passenger cars and commercial vehicles,” HARI President and CEO Ma. Fe Perez-Agudo said.
In November, sales in the Passenger Cars (PC) segment grew by 6.8 percent (versus October) with 1,556 units sold spearheaded the Hyundai Reina and Accent. Since its introduction in late January, the Reina has consistently grown in sales and for November, has become the top-seller for HARI. The Reina is now the second best-selling A-segment passenger vehicle in the country, while the Accent sustained its third best-selling position in the B-segment. A total of 16,116 Hyundai passenger cars were sold in the first 11 months of 2019.
Month-on-month, Light Commercial Vehicles (LCV) slightly increased to 1,365 units with the Hyundai Kona subcompact crossover and Hyundai H-100 leading the charge. According to Hyundai, these two models are the best-sellers in their respective segments. Year-to-date November 2019, LCV sales dipped by 2.55 percent with 13,696 units sold. Nonetheless, the Tucson, Grand Starex, and Santa Fe all showed month-on-month growth.
HARI’s Commercial Vehicles (CV) business continued its surge with a 50 percent growth in November versus the previous month. Year-to-date, sales of Hyundai’s Trucks and Buses (HTB) grew significantly by 79.7 percent with 787 units sold. This segment is expected to grow even more with increased demand from the public transport sector.
The company says it will inaugurate more dealerships for both its Passenger Car and Commercial Vehicle business in 2020.
“Based on current market demand and the untapped potential in key growth areas, there is a need to further expand Hyundai’s presence to serve more customers while driving economic activity in local communities. We have several facilities in various stages of completion that will be opened throughout 2020. This supports our outlook that the automotive industry is set come back strong next year,” Ms. Agudo added.
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