AUTO INDUSTRY NEWS

Hyundai PH records 34% growth in the month of September

Hyundai PH records 34% growth in the month of September image

Text: Marcus De Guzman / Photos: Hyundai Philippines | posted October 21, 2014 10:35

Passenger Car sales had a high growth rate in both year-on-year and year-to-date sales

Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines garnered a 34% year-on-year growth increase last September as 2,017 units were sold by the company with Passenger Cars (PC) and Light Commercial Vehicles (LCV) posting double-digit growths. Year-to-date and sales on the other hand managed to reach a total unit of 17,693 sales, 9% higher against year-ago levels.

PC segment sales totaled to 1,490 units in September with a year-on-year growth sales marked at 45%. Leading the PC segment were Eon, Accent and i10 nameplates. Year-to-date PC sales also went up as the company recorded 12,323 units sold in September, 25% higher from the same period last year.

The LCV segment managed to get a high sale mark for the month of September as 527 were sold or 10% year-on-year growth. The Grand Starex nameplates topped the list and posted a 38% increase in sales. However, year-to-date sales is off its tally by 15% due to supply constraints compared to its performance during the months from January-September.

Hyundai views the economic growth of the Philippine as favorable because of the recovery of export. Also helping the economy according to the company is strong local manufacturing output, investment expansion and private consumption. Hyundai added that the Philippines will continue to see a strong growth prospect and is expected to be one of the ASEAN's fastest growing economies with its macroeconomic and fiscal landscape.