It’s been a prosperous start for Hyundai Asia Resources, Inc. (HARI), as they were able to push their sales up by 16.2% in the first two months of 2019. The achievement translates to an exact figure of 6,537 units sold, which is 913 more units compared to the same period from the previous year.
In February 2019 alone, HARI’s performance reached a 38.6% increase, which is 3,715 units all in all. In addition, as reported by the Association of Vehicle Importers and Distributors, Inc. (AVID), HARI was able to maintain its position in the passenger car (PC) segment, as well as in the commercial vehicle (CV) segment for the whole month of February.
“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.”
From January to February, HARI showed quite an improvement in the PC segment. The company traces this to the release of the all-new Reina and Accent. These nameplates are believed to be the main drivers of the segment’s sales growth. The South Korean brand sold 3,490 passenger cars in a year-to-date basis, 2,047 of it were from February alone.
Meanwhile, the light commercial vehicle (LCV) segment netted a 131% increase in February 2019 with 1,578 units sold. It is led by the H-100, which has a whopping 1,332 sales. This brings the overall sales to 2,893 for the first two months of 2019 – that's 86.6% higher compared to the same period of 2018.
Sales of Hyundai trucks and buses, on the other hand, grew 113.9% for the first two months of 2019—190.3% increase if based on year-on-year. This could mean that the demand for commercial vehicles (CV) has risen due to active efforts in building infrastructure and further economic development.
HARI predicts that sales may continue to rise due to the positive changes in the economy. The South Korean carmaker believes that with the continuous decrease in the inflation rate and the observable increase in government spending, there may be a chance for these figures to continuously rise. The Build, Build, Build project by the current administration could favor HARI in the CV segment. After all, it’s just the third month of the year, better things may still unfold in the following months.