Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the country, reported a 9.6-percent growth in sales in October, reaching 3,578 units. Overall, this puts the total January to October 2018 sales at 29,018 units, closing the gap with a minute decline of 5.5-percent to the 30,717 units sold in same period of the previous year.
Meanwhile, the sales of the Passenger Car (PC) Segment remain to be the brand’s volume driver owing more than half of the brand’s total unit sales for the year. In October alone, PC sales amounted to 2,113 units or a 28.8-percent decline, totaling to 21,065 units from January to October.
The Light Commercial Vehicles (LCV) segment has taken the spotlight as it grew from 1,153 units in October 2017 to 2,074 units this year, recording a 79.9-percent year-on-year growth. This amounts to a total of 12,155 units sold from January-October 2018, growing 25.9-percent compared to the same period of the previous year. The segment contributed to almost half of all the year-to-date Hyundai vehicle sales in 2018 with the successful introduction of the Hyundai Kona, Hyundai’s entry to the subcompact SUV segment. The increased industrial activity has also given rise to the Hyundai H100, Hyundai’s Small Utility Truck, which experienced a sudden surge in its 2018 sales growing 45.8-percent.
Maria Fe Perez-Agudo, President and CEO of HARI said, “Last October’s performance only reflects that the performance of the automotive industry is beginning to normalize,”
“Our growth outlook remains to be upbeat for the remainder of the year,” adds Agudo.