Hyundai posts dramatic increase in sales

Published May 17, 2019, 12:00 AM

by manilabulletin_admin

By Bernie Cahiles-Magkilat

Hyundai sales rose a dramatic 17.4 percent in April this year to 2,795 units on strong sales of sports utility vehicles (SUVs) and commercial vehicles (CVs).


Ma. Fe Perez-Agudo
HARI President and CEO Maria Fe Perez-Agudo

In a report, Hyundai Asia Resources Inc. (HARI) said the April sales per year bringing total year to date performance to 12,744 units or 13.5 percent higher than the 11,224 sales in January-April period last year.

Of total sales in April, HARI sold a total of 1,090 units of SUVs or light commercial vehicles or 47.5 percent from 739 units. It also sold 93 units of CVs or 158.3 percent as against 36 units April 2018. The passenger car segment also improved slightly by 0.4 percent to 1,612 units from 1,606 units in April last year.

Year to date, HARI’s sales of LCVs went up by 65.3 percent to 5,396 units from 3,265 units while CVs improved by 124.3 percent to 332 units from 148 in the same first four months of 2018. But, sales of passenger cars decreased by 10.2 percent to 7,016 units from 7,811 units last year.

HARI President and CEO Maria Fe Perez-Agudo said that its April sales were boosted by its best-selling segment A sedan Reina, globally awarded crossover Kona, and the versatile H-100 light truck.

“Coming from a challenging year, we are delighted to report three straight months of robust growth underpinned by strong sales of our core products, customer experience solutions, and strategic initiatives in place that are now bearing fruit. We have several projects in the pipeline that will further strengthen our existing business while giving us flexibility as we explore new revenue streams,” Agudo said.

HARI has been establishing dedicated CV dealerships in key growth areas across the Philippines, underscoring its efforts to support the Philippine government’s bid to boost the country’s infrastructure.

HARI currently has a network of 11 CV dealerships nationwide delivering complete Sales, Service, and Spare Parts (3S) to commercial and industrial customers, as well as MSMEs.

It aims to expand this network to 20 CV dealerships by 2020.

The company also plans to establish more Hyundai City Stores – a pioneering initiative to widen its reach in high-density urban locations that do not have space for a traditional dealership. City Stores provide customers with a convenient, innovative, and personalized retail experience enhanced by digital technology.

Agudo expects its Hyundai trucks and buses are poised to grow further with the introduction of its new models in the coming months.

“We intend to leverage on our strong performance as we gain more momentum. We aim to sell 40,000 Hyundai units by the end of the year and we are confident we can hit this target, especially with new vehicle models that we are launching within the year,” Agudo added.

Hyundai Philippines continues to look for new avenues for growth through continuous innovation.

The Hyundai City Store in Cebu is the first retail space of its kind in the local auto industry that elevates customer experience to a new level through digital technology, she said.