HyundaiPH’s 2018 sales helped by Light Commercial Vehicle segment
Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, closed its 2018 Full Year sales with a total of 35,401 units. Compared to the 2017 Full Year performance of 37,678 units sold, the difference is just a mere 6.0%; this is in contrast to an industry that has been declining in the double digits. December alone saw sales reach 2,957 units for the month. This completes the 4th Quarter of 2018 with 9,961 units sold. Quarter-on-Quarter performance shows a slight dip of 2.5% from the 10,227 units sold in the 4th Quarter of 2017.
Passenger Cars (PC) segment sales retained its position as the brand’s volume driver by accounting for 56.2% of the total sales. The segment declined by 22.0% to 19,905 units for the Full Year of 2018 compared to the 25,529 units sold in the same period of 2017. Performance of the segment can be attributed to the sale of the Accent. The model has attributed 75.6% of the brand’s total PC sales.
Light Commercial Vehicles (LCV) segment was at the spotlight for 2018 as the brand’s growth driver. 2018 Full Year sales registered a total of 15,496 units sold, growing by 27.5% from the 2017 Full Year sales of 12,149 units. In the 4th quarter alone, the brand saw a 48.4% rise in its LCV sales; 5,415 units sold in the 4th quarter of 2018 compared to the 3,650 units sold in the same period of the previous year. Driven by the Kona, Tucson, Grand Starex, and H-100, the brand’s LCV models have topped in their respective sub-segments and ruminatively maintained an upward growth trajectory for the brand. As a result, this has offset any negative effects experienced by the Philippine automotive industry throughout the year.
“Amidst the uncertainty faced in the automotive industry for the year, Hyundai has proven itself to weather the odds and exceed expectations. The economic landscape shows to be more optimistic, you can expect more from us in 2019.” – Ma. Fe Perez-Agudo, HARI President and CEO