AUTO company Hyundai Asia Resources Inc. (Hari) posted a sales growth 5 percent in the first half of the year, with total sales reaching 10,355 units.
“This was largely driven by the 18-percent rise in passenger-car sales to 4,726 units from 4,004 units sold in the same period last year. [Light commercial vehicle] sales slipped 3 percent on the back of supply shortage resulting from strong global demand, particularly for the Tucson and Starex models,” the company said in a statement.
Hyundai sold 1,415 units of passenger cars in June from 871 units in the same month last year for a 62-percent growth.
This allowed the company to increase its overall sales for the month by 13 percent to 2,293 units.
“This month’s growth is an affirmation of Hyundai’s relentless pursuit to push the standard of the Filipino car-buying experience at the dealerships with the ongoing rollout of the Hyundai Global Dealer Enhancement Program-Phase 2, or DEP2. Hyundai dealerships in the country are getting global quality makeovers. Customers raring to buy Hyundai’s best-in-class automobiles are treated with equally world-class showroom spaces,” it said.
The company attributed the growth in the first semester to the expanding market acceptance of the new Accent, Elantra and Sonata models, including the H-100 and Santa Fe models. Hari said it remains bullish for the second half of the year, particularly with the Moody’s investment upgrade of the Philippines’ credit rating, steady interest rates despite higher inflation, increasing remittances and strengthening peso on encouraging developments from Europe, the Middle East and Japan, expected increase in consumption demand as the holidays are approaching, the Philippine government’s resolve to increase infrastructure and social spending, and aggressive customers warming up to the Hyundai brand and expectant of new models.
