The drive of Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai commercial vehicles (CV) in the Philippines, gains even more momentum to make the brand a powerhouse in the CV industry, notwithstanding the challenges of the new normal. April year-to-date (YTD) sales now point to Hyundai as the third top-ranking CV brand in the country, garnering stellar numbers in the truck and bus segments, which attest to the market’s confidence in the Korean automaker.
The CV industry’s total trucks and buses sales grew by a rousing 72% with reported sales at 3,720 units. From here, HARI cornered a significant chunk of the market pie at 19.1% with sales of 711 units, and grew by a stunning 672.8% compared to the same period last year, elevating the brand to top 3.
In the truck segment, top 3 categories of trucks: Cat. III, Cat. IV-A, and Cat. V, comprise 94% of the total truck segment, contributing market shares of 58%, 24%, and 12%, respectively. HARI is likewise at the 3rd spot in this segment with 18.1% market share and sales of 658 units, which translate to an even more commanding growth rate at 1,780%, thanks to brisk sales of the HD36L Maxculado, HD65 and HD65X, and Xcient trucks that have competitively made their mark in Cat. III, Cat. IV-A, and Cat. V, respectively.
Bus segment sales, though challenged by travel restrictions in the new normal, still showed promising economic activity, as 89% share of sales went to Cat. IV-A buses. Here is where HARI continues to dominate with 76.5% 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.
All in all, HARI remains strong amid the extraordinary circumstances of the times, continuing to support the Filipino entrepreneur with their quality and durable fleet of trucks and buses to help move the economy and provide safe and comfortable modes of transport. No wonder that from 2017 to April 2021, HARI’s cumulative sales already reached 2,912 units, even as the country underwent some major setbacks that affected the economy when the pandemic hit in 2020.
For HARI president and CEO Ma. Fe Perez-Agudo, Hyundai’s growing sales and market share demonstrate both robust demand for the Korean brand, and more importantly, the strength of a nation that’s undeterred and 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 brands like Hyundai to help move the economy for the better in every way possible,” Agudo said.
