Hyundai sales jumped 17.4% in April

The official distributor of Hyundai vehicles in the country saw its unit sales increase 17.4 percent in April from the same month a year ago, the company said on Friday.

Hyundai Asia Resources Inc. (Hari) said in a statement that it sold 2,795 vehicles in April, higher than the 2,381 units sold in the same month last year.

In the first four months of the year, the company grew its unit sales by 13.5 percent to 12,744 units from 11,224 units sold in the same period last year.

Hari said the latest figures marked the third month in a row that the company registered a year-on-year growth in its volume sales.

“Coming from a challenging year, we are delighted to report three straight months of robust growth underpinned by strong sales of our core products, customer experience solutions and strategic initiatives in place that are now bearing fruit,” Hari president and CEO Ma. Fe Perez-Agudo said.

“We have several projects in the pipeline that will further strengthen our existing business while giving us flexibility as we explore new revenue streams,” she added.

Perez-Agudo has previously told reporters that the company was targeting 40,000 to 45,000 unit sales this year, a goal which meant hitting a high-end range of 27 percent growth in 2019.

Hyundai sold 35,401 units last year, lower than the 37,678 units sold in 2017.

Passenger cars had a flat performance for the month of April, inching up by 0.4 percent to 1,612 units. In the first four months of the year, this segment saw a decline of 10.2 percent to 7,016 units from a year ago.

Light commercial vehicles sales went up 47.5 percent to 1,090 units in April from 739 units last year. From January to April, this marked a 65.3 percent growth to 5,396 units from 3,265 units previously.

Hari said it has been setting up dedicated commercial vehicle dealerships in key growth areas across the country.