Hyundai Asia Resources, Inc. (HARI), posted a sustained growth over the past three months by posting sales of 2,795 units in April 2019, with the total being a 17.4% increase year on year.
Best sellers in each segment were who to thank; subcompacts like the Hyundai Reina, and the globally awarded subcompact crossover, the Hyundai Kona, were two of the company’s standouts in the consumer car segment. In the commercial vehicle (CV) line of the company, the H-100 light truck stood above the rest.
For passenger cars (PC), the Korean brand remains strong in sales, as the PCs stay as a volume driver revenue-wise for the company. With a total of 7,016 units from January to April, 2019, HARI retains the level of growth it has set for itself. Even after experiencing a 10.2% dip, the gap is getting smaller because of the Reina’s traction in the market. A total year on year increase of 0.4% or 1,612 units sold attests to this.
HARI has been establishing dedicated commercial vehicle (CV) dealerships in key areas of growth in the country. This is in line with the government’s bid to boost infrastructure here in the Philippines. A total of 11 CV dealerships are present nationwide. These showrooms deliver complete sales, service, and spare parts (3S) to customers. Hyundai wants these dealerships to total to 20 by the year 2020. CV sales grew by 158.3%, and Hyundai trucks and buses are poised to grow further with new models coming in the future.
The light commercial vehicle (LCV) segment is continuing to make significant strides as it grew by 65.3% to 5,396 units sold. This is in stark contrast compared to what the sales report said last year in the same period. Higher demand for the H-100 contributed to the high growth rate of Hyundai’s segment.