Hyundai Philippine Distributor Posts 3% Sales Growth
Hyundai Asia Resources Inc. (HARI), distributor of Hyundai in the Philippines, yesterday said sales grew 3 percent in the first four months of the year to 6,419 units from 6,251 in the same period in 2010.
HARI also bucked the industry decline with April sales improving 5 percent to 1,707 units, compared with 1,633 in March.
Compared with April 2010 when sales reached 1,679 units, sales in April this year represented a 2 percent increase.
HARI attributed the growth to the uptrend for its fuel-saving vehicles in its latest sales report, with strong market turnouts for the Accent and Sonata models under the passenger car segment, and the Santa Fe, Tucson, and Grand Starex units for the light commercial vehicle category.
“The sales prove positive for Hyundai, as the figures show that Filipinos are growing increasingly supportive of ways to minimize fuel consumption and their carbon footprint with their patronage of vehicles that are energy-efficient,” said Fe Perez-Agudo, president and chief executive of HARI, noting the significant gains of Hyundai’s fuel-efficient range of vehicles.
Agudo said April sales growth was boosted by the Accent and Tucson but was dampened by stock availability of the i10 and Santa Fe models.
HARI is no longer a member of the Chamber of Automotive Manufacturers, hence, its sales data is not include in the latter’s industry update.
Malaya Business Insight
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