Hyundai sales taper off in April

“The minute impact of the TRAIN Law in the sale of Hyundai vehicles only shows the capacity of the brand in weathering any uncertainties in the auto industry. Automotive consumers remain responsive and the brand would continue to satisfy them with its line-up of best-inclass products and services,” said Ma. Fe Perez-Agudo, HARI president and CEO.

Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, showed bearish sales in the first four months of 2018. By the end of April, the brand posted a conservative 11,076 units sold or a 2.5-percent dip from previous-year sales of 11,362 units. In April 2018 alone, sales slowed down by seven percent, to 2,345 as compared to the 2,521 units sold the same period in 2017.

Hyundai’s volume driver, the Passenger Car (PC) segment, showed the best performance by contributing close to three-fourth of the brand’s sales. This would amount to 7,811 total unit sales for the month of January to April 2018, a 0.7-percent increase as compared to the same period of the previous year. Given this, the Accent and Eon remains unscathed as their growth was barely tempered amidst the lingering effects of the TRAIN Law by selling 5,113 and 2,168 units respectively.

The Light Commercial Vehicles (LCV) segment, first quarter sales slowed by 9.5 percent, from 3,609 units in the first four months of 2017 to 3,265 units in the same period of 2018. Sales in April, however, performed better than expected by only declining by two percent. The brand sold 739 units in April 2018, compared to 754 sold in April 2017.