Hyundai’s sales figures go down by 6.94% for Jan-Nov

MANILA: Against the 32,882 units that Hyundai Asia Resources, Inc. (HARI) sold from January 2018 to November 2018, the South Korean automaker could only trade 30,599 vehicles during the same period in 2019. Courtesy of the lower sales figures, the company has witnessed a decline of 6.94% in on the sales charts. On the contrary, in terms of month-on-month comparison, Hyundai Asia Resources, Inc. (HARI) sold 2,981 units in November 2019 compared to 2,856 vehicles in November 2018 and saw a rise of 4.4%.

As for December 2019, Hyundai Asia Resources, Inc. (HARI) has asserted that the sales figures for the last month of the year will surely go beyond 3,000 trades. "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", cited HARI President and CEO Ma. Fe Perez-Agudo.

Speaking of different segments, HARI's Light Commercial Vehicles (LCV) sales went down by 2.55% from 14,055 sales last year to 13,696 units in 2019. Similarly, passenger car sales also dipped by 12. 36% as HARI could only trade 16,116 units this year in comparison to 18,389 sales in Jan-Nov 2018. In November 2019, however, the passenger car sales went up by 6.8% thanks to 1,556 sales courtesy of Hyundai Reina and the Hyundai Accent. While the Reina is on the second spot in its segment, the Accent continues to endure on the third spot.

"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 to come back strong next year", stated Agudo.

LCV sales in November 2019 incorporated sales of 1,365 units. The top performers in the category remained to be the Hyundai Kona and Hyundai H-100. One of the best parts for HARI was seeing a growth of 79.7% in the commercial vehicles (CV) segment on the year-to-date basis. The surge came courtesy of the new commercial vehicles (CV) dealership Cainta where the company managed to trade 1,200 units of the Hyundai H-100 Modern Jeepneys Class 2, Hyundai County Buses, and the Hyundai HD50S Modern Jeepneys Class 1 combined.

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