HARI sales up slightly in Q1

MANILA, Philippines - Sales of the local distributor of Hyundai vehicles went up slightly in the first quarter compared to the same period a year ago due to the strong demand for passenger cars (PC).

In a statement, Hyundai Asia Resources Inc. (HARI) said it sold 5,983 units in the first three months of the year, one percent higher than the 5,951 units sold in the same period in 2013.

Contributing to the higher sales was the PC segment as sales grew 18 percent to reach 4,004 units as of end-March from 3,404 units in the comparable period last year.

Light commercial vehicle (LCV) sales meanwhile, declined 22 percent to 1,979 units in the first quarter from the 2,547 units sold in the previous year.

For the month of March alone, HARI’s sales rose 19 percent to 2,030 units from 1,710 units in February.

PC sales in March climbed 20 percent to 1,393 units from 1,164 units in February.

HARI noted that the Elantra and Accent sales in March helped propel growth in the segment.

The Elantra experienced a 30-percent growth in March with sales of 112 units from the previous month.

Sales of the Accent jumped 89 percent month-on-month to 600 units in March.

LCV sales posted a 17-percent increase to 637 units in March from the previous month’s 546 units.

Boosting the LCV sales were the Grand Starex and Tucson with impressive sales growth of 42 percent and 14 percent, respectively compared to the February sales performance.

HARI president and chief executive officer Fe Perez-Agudo is upbeat the firm would continue to have positive sales performance for the coming months.

“As the Philippine economy continues to be on an upbeat track, Hyundai welcomes the second quarter with additional strength on the back of the brand’s prowess to deliver modern premium products and drive to customer service excellence,” she said.

HARI’s total sales reached 22,033 vehicles in 2013.