Korean carmaker Hyundai continues to show an excellent sales growth over the past three months after posting an impressive sales of 2,795 units in April, marking a steady 17.4-percent increase year-on-year.
The sustained growth were attributed by its newly sedan Hyundai Reina, Crossover Kona, and their ever-reliable H-100 light truck.
In a press statement, Hyundai Asia Resources, Inc (HARI) President and CEO Fe Perez-Agudo, said, “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. We have several projects in the pipeline that will further strengthen our existing business while giving us flexibility as we explore new revenue streams.”
The company has been establishing dedicated Commercial Vehicle (CV) dealerships in key growth areas across the country, underscoring its efforts to support the Philippine government’s bid to boost the country’s infrastructure.
In the Philippines, HARI has a total network of 11 CV dealerships nationwide delivering complete Sales, Service, and Spare Parts (3S) to commercial and industrial customers, as well as MSMEs. It aims to expand this network to 20 CV dealerships by 2020.
The company also plans to establish more Hyundai City Stores—a pioneering initiative to widen its reach in high-density urban locations that do not have space for a traditional dealership. City Stores provide customers with a convenient, innovative, and personalized retail experience enhanced by digital technology.
Meanwhile, Hyundai’s Passenger Car (PC) segment continues to maintain its position as the main driver of sales selling a total of 7,016 units from January-April. Although, after experiencing a 10-percent downfall, the momentum of Hyundai is slowly being carried by its new sedan, the Hyundai Reina.
The Light Commercial Vehicle (LCV) segment continues to make significant strides as it grew by 65.3-percent to 5,396 units sold compared to the same period last year. The strong sales of the Kona and the higher demand for H-100 are key contributors to the growth of Hyundai’s LCV volume.
“We intend to leverage on our strong performance as we gain more momentum. We aim to sell 40,000 Hyundai units by the end of the year and we are confident we can hit this target, especially with new vehicle models that we are launching within the year,” Agudo added.