Hyundai Asia Resources Inc., the official distributor of Hyundai commercial vehicles in the Philippines, said the strong growth in sales placed Hyundai Trucks and Buses at the third spot among the industry players in the first four months.
HARI president and chief executive Ma. Fe Perez-Agudo said Hyundai’s growing sales and market share demonstrated both robust demand for the Korean brand and the strength of a nation ready to push on for recovery.
“We welcome this new achievement of Hyundai Trucks and Buses in the Philippines as a big win, not only for us at HARI and our dealer network, but even more inspiringly, this is a triumphant milestone for Filipino entrepreneurs, because of their boldness to keep on going by partnering with brand,” she said.
The commercial vehicle industry’s total trucks and buses sales grew by 72 percent to 3,720 units in the four-month period from a year ago. Hyundai cornered a significant chunk of the market at 19.1 percent, with sales of 711 units that grew by 672.8 percent from the same period last year.
Agudo said the growth was due to brisk sales of the HD36L Maxculado, HD65 and HD65X and Xcient trucks that competitively made their mark in category III, category IV-A and category V, respectively.
Bus segment sales, though challenged by travel restrictions in the new normal, still showed promising economic activity, as 89 percent share of sales went to category IV-A buses.
This is the category where Hyundai continues to dominate with 76.5 percent market share and sales of 52 units, majority of which are from Hyundai’s dependable mass transport partner, the County, which now has a commanding 43-unit lead over the competition.
Agudo said Hyundai remained strong amid the extraordinary circumstances as it continues to support the Filipino entrepreneur with quality and durable fleet of trucks and buses.