Hyundai Asia Resources Inc. (HARI), the exclusive distributor of Hyundai vehicles in the Philippines, has reported an impressive 103-percent growth in sales last year versus 2004, making it the second fastest growing automotive brand in the country next only to Mazda.
Data showed that the Korean carmaker successfully sold a total of 4,924 vehicles, representing as 2,426 units in 2004.
Hyundai’s excellent sales performance last year also helped the whole car industry register a 10percent growth from 88,009 units in 2004 to 97,089 units in 2005, despite the dip in sales of many brands.
In the passenger car segment, Hyundai ranked 4th with 2,339 sold units for a market share of 7 percent, a huge jump from its 2004 figures of 507 units and 2-percent market share.
Largely responsible for this was the strong showing of the Getz hatchback, which had the largest market share among hatchbacks with 1,968 sold units.
In the light commercial vehicle segment, Hyundai climbed up to 6th spot with a market share of 8 percent by selling 2,585 units, besting even the likes of Mitsubishi and Suzuki.
Hyundai LCVs were only in 8th spot in 2004 with 1,919 sold units and a market share of 7 percent. Both the popular Starex and the newly launched Tucson were credited with Hyundai’s 35-percent growth in the LCV segment. (BCM)
The healthy influx of new Hyundai models helped HARI achieve its 2005 sales targets. In the second quarter, HARI launched the Sonata 3.3liter V6 midsize sedan, the Matrix 1.5-liter CRDi MPV, the Getz 1.1- and 1.3-liter hatchback, and the Tucson 2.0-liter CRDi compact SUV. In the third quarter, the refurbished Starex GRX was introduced. Finally, in a show of force to wrap up the year, HARI unleashed four new vehicles in December: the Azera 3.3-liter V6 luxury sedan, the new-variant Coupe 2.7- and 2.0-liter GLS, the Accent 1.5-liter CRDi compact sedan, and the Getz 1.5-liter CRDi hatchback. (BCM)
Hyundai promises a more progressive year and vowed to provide customers quality, value for money, fuel-efficiency and dynamic styling that have endeared the surging Korean carmaker to practical but discriminating Filipino car buyers. (BCM)
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