Positive growth for Hyundai in the Philippines

MANILA: By selling 3,426 units in November 2018, Hyundai Asia Resources, Inc. (HARI) has recorded a growth of 3.5% as compared to the same month last year. In November 2017, HARI sold 3,309 vehicles and now this is the second month in a row this year when Hyundai has witnessed a positive jump in the sales graph.

However, it is to be noted that in the year 2018, from January to November, Hyundai Asia Resources, Inc. (HARI) sold 32,444 vehicles nationwide which is a decline of 4.6% compared to the previous year performance for the same time period.

At the Manila International Auto Show (MIAS) last April, we saw the unveiling of the vehicles like Veloster, Santa Fe, and the Ioniq Hybrid along with the Kona. The H-100 alongside the Kona has been the pick of the cars which have contributed the most in increasing sales. Hyundai has stated that the Build, Build, Build project has resulted in the increased demand and sales of the H-100.

Talking about the passenger cars, the segment has accounted for 56.7% of the total sales in the ongoing year. However, the segment has actually declined by 20.6% as well. If we see the January to November sales number, HARI sold 23,167 units in the year 2017 and could only sell 18,389 vehicles this year during the same period. With the launch of the new Accent and Santa Fe, HARI is very optimistic about the sales in the year 2019.

Ma. Fe Perez-Agudo, who is the president and CEO at HARI, said, “As economic headwinds begin to slowdown, Hyundai is in its best position to take advantage of what is left of 2018. Backed by a strong Hyundai community in the country, we have proven time and again that our products and services remain relevant in the country’s automotive industry”.