HYUNDAI Asia Resources Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, reported 10 percent sales growth in August from a year earlier after selling 2,073 units during the month.
For the first eight months of the year, Hyundai’s sales reached 15,676 units, 7 percent higher than the 14,713 units recorded in the same period last year.
The Passenger Car (PC) segment fueled Hyundai’s overall sales performance, posting 21 percent year-on-year growth in August with 1,526 units sold.
Backed by Hyundai’s Best of Deals campaign, the sub-compact EON scored 44 percent sales growth, while Accent strengthened the PC sales performance with 54 percent sales growth in August.
The Genesis Coupe also boosted Hyundai’s PC sales performance with a 200 percent year-on-year growth. This lifted year-to-date PC sales to 10,833 units, or 22 percent better compared to PC sales during the same period last year.
Meanwhile, sales of its Light Commercial Vehicle (LCV) segment went down 11 percent year-on-year in August, with 547 units sold.
In the LCV segment, sales of the Santa Fe model went up 85 percent year-on-year. This was followed by the sustained performance of the Grand Starex, which saw a 7 percent sales growth in August with 238 units sold.
For the first eight months, the LCV category experienced a 17 percent decline in sales to 4,843 units from 5,846 units sold during the same period last year. Supply constraints continue to undermine the segment’s overall performance.
“The Philippine economy’s solid posture in the second quarter with 6.4 percent GDP performance and the automotive industry’s upbeat sales track continue to be a confidence booster for Hyundai to step up its efforts to become top of mind choice for the discerning Filipino market,” HARI President and CEO Ma. Fe Perez-Agudo said.