Hyundai sales in PHL market jumps 23% in May

MANILA, June 11 (PNA) — Sales of Hyundai vehicles in the local market in May of this year has increased by 23 percent to 2,094 units from last year’s 1,708 units.

Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippine market, showed that the positive sales performance of the company in May was pushed by increases in both passenger car (PC) and light commercial vehicle (LCV) segments.

PC sales in May 2014 went up by 33 percent 1,497 units from May 2013’s 1,129 units.

“May’s upbeat sales was characterized by a strong demand for Passenger Cars (PC), with EON and Accent leading the pack… EON and Accent posted positive gains and grew by 131 percent and 47 percent, respectively, in May versus year-ago levels,” HARI said.

LCV sales, likewise, grew by 3.0 percent to 597 unit sales in May this year against same month of last year’s 579 unit sales.

HARI mentioned that the increase in this segment was brought by double-digit growth of Grand Starex and the H-100.

Meanwhile, aggregate five-month sales of HARI posted at 9,723 units which is 5.0 percent higher from last year’s same period of 9,266 units.

“Hyundai’s strong performance will remain steady and on course, banking on positive expectations about the gradual recovery of the Philippine economy and policy adjustments that will mitigate risks to consumer spending,” said Ma. Fe Perez-Agudo, HARI president and CEO. (PNA)