Hyundai Asia Resources Inc., the official distributor of Hyundai vehicles in the Philippines, continued its positive streak as sales grew by 12 percent in June to 1,928 units, driven largely by the strong performance of the passenger car segment.
Data from HARI showed that the passenger car segment chalked up a 28-percent increase in sales to 1,349 units in June, offsetting the 14-percent decline in the sales of light commercial vehicles.
In the first six months of the year, HARI managed to grow by 6 percent to a total of 11,651 units.
The passenger car segment continued to be the growth driver as sales rose by 21 percent as of end-June to 7,896 units, due to robust sales of the Eon and the Accent, HARI explained.
The light commercial vehicle segment however saw a 16-percent decline in sales due largely to supply constraints.
“Despite a slower economic growth outlook this year, Hyundai is poised to take its steady sales track in full swing for the remainder of the year on the strength of our customer experience standards and modern premium products and services,” said HARI president and CEO Ma. Fe Perez-Agudo.
HARI’s optimism on yearend sales is anchored on a bullish economic outlook.
“With the steady economy, demand for vehicles will remain significant, evidenced by the exceptional performance of the automotive industry in the first half of the year. By yearend, the industry is set to hit double-digit growth on brisk vehicle demand,” the company said.