One of the country’s leading automotive players, Hyundai Asia Resources, Inc. (HARI) sold 2,981 units in November or a 4.4% growth versus the previous month’s 2,856 units. HARI’s November sales is its third highest month in 2019.
Year-to-date November 2019, total sales breached the 30,000 mark hitting 30,599 units. This is 6.9% lower compared to the same period in 2018.
Despite the drop, the company is confident it will surpass the 3,000 sales mark for December to usher in the new decade on a high note.
“December is historically a good month for HARI due to increased consumer spending. Coupled with lower interest rates and inflation, we expect our sales to be further bolstered. Beyond these factors, our main drivers remain the quality, reliability, and ease of maintenance of Hyundai passenger cars and commercial vehicles,” HARI President and CEO Ma. Fe Perez-Agudo said.
In November, sales in the Passenger Cars (PC) segment grew by 6.8% with 1,556 units sold spearheaded by its dynamic duo – the Hyundai Reina (PC Segment A) and the Hyundai Accent (PC Segment B). Since its introduction in late January, the Reina has consistently grown in sales and for November, has become the top-seller for HARI. The Reina is now a strong No. 2 in its industry segment. The segment topping torque combined with its fuel-efficiency and reliability of the Accent has allowed it to sustain its No.3 position in this volume driving segment. A total of 16,116 Hyundai passenger cars were sold in the first 11 months of 2019.
Month-on-month, Light Commercial Vehicles (LCV) slightly increased to 1,365 units with the Hyundai Kona (Sub-compact SUV) and Hyundai H-100 (Light Truck) leading the way. These two models are the No. 1 sellers in their respective segments. Recently, the company launched the hard-working variant of the H-100. Dubbed the “KapitanKargo,” this model outperforms other similar vehicles in terms of power, fuel efficiency, payload, and safety.
Year-to-date November 2019, LCV sales dipped by 2.55% with 13,696 units sold. Nonetheless, other acclaimed Hyundai LCVs such as the Hyundai Tucson (Compact SUV), Grand Starex (Passenger Van), and Santa Fe (Mid-size SUV) all showed month-on-month growth fueled by Hyundai’s industry-first 5X5 campaign.
HARI’s Commercial Vehicles (CV) business continued its surge with a 50% growth in November versus the previous month. Year-to-date, sales of Hyundai’s Trucks and Buses (HTB) grew significantly by 79.7% with 787 units sold. This segment is expected to grow even more with increased demand from the public transport sector. Recently, the company opened its 5th dedicated CV dealership for 2019 in Cainta. The inauguration of HTB-Cainta was highlighted by the signing of MoUs for the order of 1,200 units of Hyundai HD50S Modern Jeepneys Class 1, Hyundai H-100 Modern Jeepneys Class 2, and Hyundai County Buses.
The company hinted that it was preparing to inaugurate more dealerships in both the PC and CV business in 2020.
“Based on current market demand and the untapped potential in key growth areas, there is a need to further expand Hyundai’s presence to serve more customers while driving economic activity in local communities. We have several facilities in various stages of completion that will be opened throughout 2020. This supports our outlook that the automotive industry is set come back strong next year,” Ms. Agudo added.
HARI YTD-NOVEMBER 2019 AND MONTH-ON-MONTH SALES