Hyundai Asia Resources, Inc. (HARI) is on its right track in concluding 2018, as it was able to secure a 3.5% increase in year-on-year overall sales for November. This marked the second consecutive month for a positive business growth, following October.
Compared to the 3,309 units sold in November 2017, HARI managed to sell 3,426 units the same month this year. With this numbers, sales starting from January 2018 to November sum up to a total of 32,444. This, apparently, is a 4.6% decrease from the same period last year.
Much of the credits belong to the light commercial vehicle (LCV) segment, which is spearheaded by the Kona. If you can remember, HARI revealed the Kona, alongside the new Veloster, Santa Fe, and the Ioniq Hybrid, at the Manila International Auto Show (MIAS) last April. However, Kona isn’t the only well-performing model; there is also significant increase in the sales of the H-100, which HARI believes was an effect of the rise in construction activities under the administration’s Build, Build, Build project.
The outcome in November, especially from the LCV segment, easily countered the negative effects that HARI experienced over the last few months this year. The LCV segment was able to stamped a 29.4% sales increase on a year-to-date basis, where it sold 14,055. That’s 3,197 difference from the 10,858 units sold in the same period of 2017.
The Passenger Cars segment, on the other hand, maintained its position as the brand’s volume driver. The segment has successfully accounted 56.7% of the current total sales, although there is a 20.6% decline reported by HARI. Numbers show the significant gap from last year’s January to November sales, as the company is comparing the 18,389 sales of this year to the 23,167 of 2017. Despite this, the South Korean brand remains positive about its PC segment for 2019 with the introduction of the new Accent sedan.
“As economic headwinds begin to slowdown, Hyundai is in its best position to take advantage of what is left of 2018. Backed by a strong Hyundai community in the country, we have proven time and again that our products and services remain relevant in the country’s automotive industry.”
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