Hyundai sees 16 percent sales growth in passenger car segment


Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, has experienced a 16 percent growth in sales for the first four months of 2014 compared to the same period last year. HARI attributes this solid sales performance to the passenger car segment. Despite a frail performance from the light commercial vehicle segment, reporting a 19 percent decrease in sales, HARI’s sales still reported a total one percent growth from last year for the January-April period.

Hyundai’s bestseller, the Eon, sold a total of 491 units for April, increasing by 149 percent from last year. The Accent’s sales also grew by 31 percent, selling 451 units. According to HARI President and CEO Ma. Fe Perez-Agudo, this boost in sales can be attributed to the continuing growth of the Philippine economy, also being given a credit rating upgrade by Standard and Poor’s. “Riding on the country’s recent credit upgrade rating milestone, Hyundai sets forth its commitment in achieving sustainable growth this year on the back of increased consumer confidence in our brand,” she said.