Hyundai sales shoot up 13% in Q3

MANILA, Philippines – Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the country, sustained solid sales results with a recorded 13 percent quarter-on-quarter increase in the third quarter of this year. Paving the way for a busy but burgeoning Christmas season ahead, unit sales jumped to 6,014 units from the 5,325 units sold in Q2 2015. While year-to-date sales slowed to 16,703 units, 6 percent less than 17,693 units sold in 2014, year-on-year figures posted a steady 0 percent growth in Q3 2015, from 6,014 units to 6,042 units in a comparable period last year.

The Passenger Car (PC) category remarkably grew by 24 percent to 4,283 units in Q3 2015 versus the 3,458 units sold in Q2 2015, mainly due to the strong sales performance of the Eon and Accent. On the other hand, Light Commercial Vehicles (LCV) for the third quarter of 2015 dipped by 7 percent to 1,731 units from the 1,867 units in the second quarter of 2015. Year-on-year sales show PC’s slight decline of 3 percent, while LCV group grew by 7 percent in Q3 2015.

“With the holiday season fast approaching, Hyundai is strengthened to delight the Filipino market with unwavering customer service on top of a product line-up tailor fit to their changing lifestyle amid the heightened competition in the automotive arena,” said Ma. Fe Perez-Agudo, HARI president and CEO.

The continuing effect of lower inflation further supports the auto industry as evident by the robust auto sales. This is also fueled by the growing auto loans, which are buoyed by the attractive financing packages. This bodes well for the auto industry as it is projected to grow by double-digit year-end.