Sales of Hyundai motor vehicles in the country in the first half of the year declined by 10.6 percent as the modest growth in June failed to lift up the entire first six-month performance.
A report by the Hyundai Asia Resources Inc. (HARI) showed the exclusive distributor of Hyundai motor vehicles in the Philippines was able to sell a total of 6,163 units in the first half this year as against 6,894 units in the same period last year.
Sales in June also grew only by a modest 5.04 percent to 812 units from 773 units the previous month, May.
In a statement, HARI said that its June sales was boosted by robust commercial vehicles (CV) having sold 40 percent more units in June than in May. Meanwhile, the passenger cars (PC) and light commercial vehicles (LCV) maintained a steady increase in sales, at 6.7 percent and 1.6 percent, respectively.
In the PC segment, the locally-assembled Hyundai Accent grew 13.6 percent month-on-month growth rate made for the biggest share in the segment’s 6.7 percent overall increase.
For the LCV segment, the Hyundai TUCSON and the Hyundai GRAND STAREX provided the momentum, growing by 33.3% and 11.9%, respectively.
While for the CV segment, the Hyundai HD50S contributed to the segment’s growth with a month-on-month increase of 75 percent for the said model. Notably, the HD50s which is used in HARI’s power contribution to the government’s PUV Modernization Program (PUVMP), the Class 2 and 3 Modern Jeepneys.
Sales of the HD50s grew by 775.8 percent, year-to-date, which cushioned the -10.6 percent dip in year-to-date performance and improved the segment’s performance by 454 percent from the same period last year.
“HARI’s steady growth mode is a sign of how we, shoulder-to-shoulder with our nationwide dealership fortress, have grown in resilience through our 20-year journey as the Filipino’s lifetime partner in mobility. We are definitely driven to start a new chapter of HARI history, which may be the toughest one yet—recovery on to achieving equilibrium in the Now Normal era. Thanks to the People of Hyundai, we’ll get there,” said HARI President and CEO Ma. Fe Perez-Agudo.