Hyundai Asia Resources Inc., the exclusive distributor of the Korean automotive brand in the Philippines, said it expects sales to surpass the 3,000 mark in December.
HARI said it sold 2,981 vehicles in November, up by 4.4 percent from October’s 2,856 units. This marked the company’s third highest monthly sales in 2019.
It said that in the first 11 months, total sales slipped 7.9 percent to 30,599 units from 32,882 units sold in the same period in 2018.
The company said that despite the drop in the 11-month period, sales in December would likely surpass the 3,000-unit mark as it welcomes the new decade.
“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,” said Hyundai president and CEO Ma. Fe Perez-Agudo.
The company said that passenger car sales grew by 6.8 percent in November to 1,556 units, led by its dynamic duo”•the Hyundai Reina and the Hyundai Accent.
HARI said that since its introduction in late January, the Reina consistently grew sales and became the top-seller for Hyundai in November. The Reina is also the second strongest model in its industry segment while the Accent sustained its position as the third in the volume driving segment. A total of 16,116 Hyundai passenger cars were sold in the first 11 months of 2019.
“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,” Agudo said.
