Sales of Hyundai vehicles in the country rose by 18 percent to 1,982 units in October this year from the 1,685 units sold a year ago, driven largely by the strong performance of the passenger car segment.
This figure brought total sales of Hyundai vehicles to 19,675 units in the first 10 months of the year, from 17,905 units sold in the same period in 2013, said Hyundai Asia Resources Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines.
Data from HARI showed that the passenger car segment continued to rally, as it registered a strong 33- percent increase in sales to 1,476 units in October, and a similar double digit growth of 25 percent for the January to October period.
This surge was reportedly propelled by Hyundai’s top selling models EON, i10 and Accent, which registered the highest sales in the category with a total of 667 units sold in October alone, HARI explained.
The light commercial vehicle segment, however, dampened this robust sales performance as it recorded a 12-percent drop in sales to 506 units for October, and a 15-percent decline in sales in the first 10 months of the year to 5,876 units.
HARI, for its part, remained optimistic of its prospects in the last two months of 2014, anchored largely on the country’s strong economic fundamentals and brisk consumer spending.
“As we close out 2014, automotive players continue to be bullish towards the holiday season with companies offering various promos to hype sales further. With the industry surpassing 2013 full-year sales last month, it is projected to hit another record-breaking growth by year-end,” the company added. Amy R. Remo