The sales of Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the country, grew by 9.6 percent compared to October of last year as it sold a total of 29,018 units from January to October 2018, closing the 5.5% decline of units sold in 2017.
Hyundai’s Light Commercial Vehicles segment had the most improvement in sales as it grew by 79.9% since October 2017.
Increased industrial activity in our country accounted for the sudden sales surge of the Hyundai H100 small utility truck with a 45.8% increase.
But it’s been the automakers passenger vehicle sales, a total of 21,065 units from January to October, that make up more than half of all Hyundai sales for 2018.
Despite the high inflation rate of 6.7%, the Philippines remained as one of the fastest growing economies in Asia, next to Vietnam and China. Though the economic growth slowed down in the Q3 of 2018, HARI is optimistic that its sales will continue to grow until the end of 2018.