Hyundai Asia Resources Inc. sustained a strong recovery in the first half of the year as sales increased 9.1 percent to 17,654 units from 16,181 units year-on-year.
Hyundai sales in June, however, were flat at 2,868 units, reflecting the volatility in the automotive industry.
It attributed the brand’s resilient performance for the year to the strong sales in major segments, namely light commercial vehicles and commercial vehicles.
“We are invigorated to note that our sales performance is still better than industry, which is showing a minor increase, after recovering from a tepid 2018. Despite this flat growth in June, we believe that auto sales will continue to get better in the coming months buoyed by higher infrastructure spending, lower inflation, and increased consumer confidence,” said Hyundai president and chief executive officer Ma. Fe Perez-Agudo.
The light commercial vehicle segment remained one of Hyundai’s key growth drivers in the first semester of the year, growing 50 percent to 7,690 units from 5,119 units on year.