Passenger cars drive Hyundai’s sales in April

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hyundai-eon20140527PHILIPPINE distributor Hyundai Asia Resources Inc. (Hari) reported its passenger cars rallied in the first four months of the year with a 16-percent growth. The segment’s performance helped Hyundai to keep its sales steady in April despite the “delicate” results logged by the company’s light commercial vehicles.

Hari said its sales reached 1,646 units in April, reflecting a 2-percent growth versus the comparable period last year. Year-to-date, Hyundai’s sales reached 7,629 units, up 1 percent from the same four months in 2013.

According to Hari, contributing to the modest growth is Hyundai’s bestselling model, the Eon mini car, which posted sales of 491 units in April, a 149-percent jump from over a year ago. This is followed by the sustained performance of the Hyundai Accent, which registered a 31-percent growth in April with 451 units delivered. Hari said the output of the two models bolstered the brand’s passenger cars by 9 percent in April.

However, Hari said that the results logged by its passenger cars were not enough to offset the frail sales of its light commercial vehicles, which slipped 7 percent this year, or 600 units in April against the 645 units in the same month last year. Cumulative sales of Hyundai’s light commercial vehicles this year reached 2,579 units, which is 19-percent less than in the same four-month period last year.

“Riding on the country’s recent credit upgrade rating milestone, Hyundai sets forth with its commitment in achieving sustainable growth this year on the back of increased consumer confidence in our brand,” said Hari President and Chief Executive Officer Fe Perez-Agudo.


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