Hyundai Asia Resources, Inc. (HARI), which happens to be the trade name of Hyundai Philippines, looks to be having a great year so far based on their latest sales report. From July to September 2015, they managed to sell 6,014 units which is a 13% increase from Q2 2015.
Most of the growth is attributed to the strong sales performance of their Passenger Cars. They sold 4,283 units in the last 3 months or around 825 more than they did in Q2, where were mostly comprised of the Eon and Accent. They, however, aren't doing so well in moving stocks of the Elantra and Sonata.
As for their Light Commercial Vehicles, which includes the Tucson, Santa Fe, Grand Starex and the likes, Q3 sales slightly dipped by 7% to 1,731 units.
Together, they make up for HARI's 13% growth in Q3 2015.
“With the holiday season fast approaching, Hyundai is strengthened to delight the Filipino market with unwavering customer service on top of a product line-up tailor fit to their changing lifestyle amid the heightened competition in the automotive arena,” said Ma. Fe Perez-Agudo, HARI President and CEO.
Despite the good news, HARI still has a long way to go. Their year-to-date sales have slowed to 16,703 units or 6% less than the 17,693 units sold in the same time frame in 2014. That means they need to smash through Q4 2015 if they want to beat 2014's total sales record of 23,019 units.
2018 was a very positive year for the Southeast Asian car market, as it was able to record 6% sales growth.
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