Despite the robust performance of its commercial vehicle (CV) segment, Hyundai Asia Resources Inc. (HARI) still booked a double-digit dip in sales in January to July.
The local distributor of Hyundai vehicles reported on Monday that sales for the seven-month period fell by 18 percent to 7,008 units from last year’s 8,542 units. CV sales jumped by over fivefold to 852 units from just 156 units a year ago.
The growth in the CV segment was mainly driven by strong sales of certain models, including Hyundai HD65 and Hyundai HD36 trucks and the Hyundai HD50S.
“Hyundai trucks have become the choice of last mile logistics providers and government agencies due to their tough build, dependability, and flexible platform,” the car firm said.
HARI’s modern jeepney line, meanwhile, has established a “considerable presence” in North Luzon and certain areas in the Visayas and Mindanao. It was endorsed by local government units and major transport cooperatives.
Meanwhile, HARI sold 2,979 units of passenger cars (PC) in the seven-month period, which is 26.5 percent fewer than the 4,054 units in the previous year.
The light commercial vehicles (LCV) segment booked a 26.7-percent decline in sales with 3,177 units sold for the period, fewer than last year’s 4,332 units.
In July alone, HARI sold 845 units, which showed a 4.1-percent uptick from the 812 units sold in the previous month.
The PC segment sales grew by 3.8 percent to 412 units in July from 397 units in June. CV sales more than tripled to 93 units from 28 units.
Sales of LCV for July, meanwhile, dipped by 12.1 percent to 340 units from 387 units recorded in June.
“HARI’s steady growth mode is a sign of how we, shoulder-to-shoulder with our nationwide dealership fortress, have grown in resilience through our 20-year journey as the Filipino’s lifetime partner in mobility,” HARI President and CEO Ma. Fe Perez-Agudo said in an earlier statement.