Hyundai Asia Resources, Inc. (HARI), reported a total of 6,537 vehicles sold within the first two months of the year. The figure is up by 16.2% from the last year’s 5,624 units over the same period. February was particularly favorable for the Korean brand, with sales surging by 38.6% to 3,715 units. This is in contrast to the Association of Vehicle Importers and Distributors, Inc.’s report of a dip of 8% total unit sales. For the first two months of this year, AVID reports 14,499 units sold.
Alongside AVID’s report of a healthy year on year growth in sales for the month of February 2019, with a 12% growth from last year. The total units sold from the report was 7,876, up from last year’s unit sales of 7,017.
Hyundai felt the love in February as sales substantially increased driven by the successful introduction of fresh and innovative models and a more positive buying sentiment from consumers. We have turned the corner and are optimistic that this trend will continue in the coming months. We aim to end the year on a high note,
The release of the new Reina and Accent has prompted sales growth in Hyundai’s passenger car segment (PC). 10 months passed and the segment managed to breach the 2,000 monthly unit sales mark. Hyundai boasts selling a total of 2,047 units in February 2019. This figure is up from the February 2018 figure of 1,966 units, a 4.1% increase. The Reina contributed to 23.7% of the total PC sales, which brings the total passenger car sales to 3,490 units.
In AVID’s report, demand for PCs dipped by 1% from a year ago. 2,843 units were sold in February 2019, against the 2,881 units sold in February last year. The report also stated a 15% drop in sales over the first two months of the year. 5,140 units were sold in the first two months of 2019, but Hyundai managed to keep its position as the best-selling brand in the segment amidst the demand shrinkage and comprised 68% of the total segment sales.
With the passenger cars getting its boost from the Reina and the Accent, Hyundai’s Light Commercial Vehicle (LCV) Segment continues its higher than expected performance. A growth of 131% in February 2019, with 1,578 units compared to 683 in the same month of 2018. The H-100, contributed the most unit sales in this segment, with 1,332 units sold. The LCV segment accounts for 2,893 units sold for the first two months of 2019, or an 86.6% growth form the same period last year.
AVID reports a total of 4,905 units sold in the month of February 2019. The 22% increase over 2,881 units sold in the same amount of time back in 2018 was not enough to top the performance of last year’s year-on-date basis of 9,434 total units, with AVID only reporting a total of 9,146 units sold.
For the commercial vehicle (CV) segment, Hyundai’s trucks and busses have sold well in support of the company’s growth trajectory. Total sales of the trucks and busses grew 113.9% and 190.3% for the year to date and year on year figures, respectively. For the unit sales, Hyundai was able to lead the segment in total sales under the AVID report with 154 units sold.
In the AVID report, a 19% increase in total sales was recorded. 128 units were sold in the second month of 2019 versus the 108 units sold last year. If the month of January were to be included, the sales figure stays the same at 213 units sold in both years.
We are encouraged to see more Hyundai commercial vehicles enabling key economic activities such as construction, delivering essential goods, and mass transportation. We aim to further boost nation-building by introducing more efficient and cost-effective vehicles to enable more Filipinos to get more out of life,