The local arm of Korean carmaker Hyundai is showing optimism in its sales as it ended the first semester of 2016, with robust 53-percent growth compared to the same period last year.
According to Hyundai Asia Resources, Inc. (HARI)—the official distributor of Hyundai vehicles in the country—the company sold 8,893 units during the second quarter, a 67-percent increase from the sales of the same period in 2015.
The main key driver of Hyundai’s first semester growth is Passenger Cars (PC) that increase by 58-percent from 7,111 units the previous year to 11, 207 units in 2016. On the second quarter, the PC sales segment expanded to a phenomenal 74-percent, attributed to strong pick up of the Hyundai Accent model. On the Light Commercial Vehicle (LCV) segment, the first semester sales grew by 44-percent and also expanded by 54-percent, due to arrival of the all-new Tucson.
Fe-Perez-Agudo, HARI President and CEO, said, “Reflecting the vibrancy of the country’s economy and automotive industry, Hyundai continues to show boundless potential as the company further delights its customers with its portfolio of modern premium products and services.”
In result, the local automotive industry will likewise benefit from the overall bright scenario given the upbeat auto-buying intentions, benign inflation, improving employment rates, and greater disposable income. With Hyundai’s upward sales trajectory in the first semester of the year, the company’s renascence is just around the corner.
Photo Credit: Asia Pacific Entrepreneurship