Local sales of the Korean carmaker Hyundai was strong in July, increasing by almost a quarter compared to the same month last year.
Hyundai Asia Resources Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, announced that it sold a total of 1,844 units in July, which is a 21-percent increase from the 1,530 units during the same month a year ago.
The strong sales for the local arm of Hyundai was triggered by its light commercial vehicles segment, which posted an 80-percent rise from 435 to 784 units sold year-on-year.
Ma. Fe Perez-Agudo, HARI president and chief executive officer, remained optimistic on stronger sales in the coming months.
“A stellar outlook for the remainder of the year anchored on positive business and consumer sentiments bodes well for yet another exceptional year for Hyundai and the Philippine automotive industry,” she said.
Some 113 all-new Santa Fe mid-size sports utility vehicle were rolled out last month, as against the two units sold in July 2012, followed by the Grand Starex passenger van, which registered a 69-percent rise in sales. The H100 utility truck improved its sales performance by 306 percent. Furthermore, Tucson, gave a solid 5-percent increase in sales for the period.
However, on a year-to-date basis, HARI sales for the past seven months plunged from 14,281 in 2012 to 12,836 this year, for a 10-percent dip in sales.
But HARI is confident that the Philippine economy would remain bullish up to the yearend, which would result to strong sales performance for the automotive industry.
“Amid the below-trend growth seen across Asia, the Philippine economy continues to be a bright spot in the region and is projected to grow at breakneck pace toward yearend, as the surging domestic economy offsets weaknesses in export demand,” Agudo said.