Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, racked up an exceptional 23% growth in sales for the month of May to 2,094 units versus the 1,708 units posted in the same month last year. Coming from months of steady growth, the upswing in the May sales performance contributed to the 5% year-to-date sales growth of Hyundai to a total of 9,723 units.
With the strong demand for Passenger Cars (PC), with EON and Accent leading, this has largely contributed to May’s upbeat sales. PC sales improved significantly by 43% to a total of 1,497 units in May from year-ago levels of only 1,046 units. EON and Accent posted positive gains and grew by 131% and 47% respectively in May versus year-ago levels. The sustained growth of PC sales raised year-to-date figures to 6,547 units, reflecting 19% growth.
On another note, the Light Commercial Vehicles garnered a stronger push to the market, with a steady 3% to 597 units in May, boosted by double-digit growth from Hyundai’s value-laden models, the Grand Starex and the H-100.
“Hyundai’s strong performance will remain steady and on course, banking on positive expectations about the gradual recovery of the Philippine economy and policy adjustments that will mitigate risks to consumer spending,” said Ma. Fe Perez-Agudo, HARI president and CEO.