Hyundai sees sales surge, unveils new models

MANILA, Philippines — The official distributor of Hyundai vehicles in the country expects its sales to accelerate by as much as 27 percent this year and reverse the decline registered last year as it introduces new vehicle models, including the first electric sports utility vehicle (SUV) in the country, and benefits from favorable economic conditions.

“We will try to achieve about 40,000 to 45,000 unit sales this year,” Hyundai Asia Resources Inc. (HARI) president and chief executive officer Ma. Fe Perez-Agudo said when asked about the company’s sales forecast for the year during the Manila International Auto Show (MIAS) 2019 yesterday.

HARI closed 2018 with sales of 35,401 units, down six percent from the 37,678 units sold in 2017.

The company, along with other automotive firms, saw their sales decline last year as the high inflation rate and imposition of higher taxes on automobiles dampened demand for vehicles.

For this year, HARI is hopeful it would post better sales performance as it introduces new vehicle models and customers have a more positive buying sentiment.

HARI unveiled two new vehicle models being made available in the country this year during the MIAS — the Kona electric SUV and the Palisade SUV.

The Kona electric SUV is equipped with a lithium-ion polymer battery, known for higher energy output and efficiency compared with the nickel-hydride batteries used in other electric vehicles.

Kona’s battery pack is also much lighter in weight and takes up less space.

“It could consume 400 kilometers before charging and because we have intra-cable box, you don’t really need to charge it. If you’re only using 40-kilometers a day weekly, you could do charging in your house. So, that’s the beauty of the Kona electric,” Agudo said.

The Kona is available at P2.388 million.

Meanwhile, the Palisade, Hyundai’s flagship SUV, is powered by a 2.2-liter CRDi (common rail direct injection) e-VGT (variable geometry turbo) GLS engine with an eight-speed automatic transmission, and has a price tag of P3.240 million.

Earlier this year, HARI launched the subcompact sedan Reina.

As of end-February, HARI’s sales rose 16.2 percent to 6,537 units from 5,624 units last year.

Agudo said the company expects the favorable macroeconomic indicators to continue to bolster automotive sales.

 “These include a falling inflation rate, increased government spending, and the expected pickup in consumer spending due to the coming elections. The government also anticipates its Build Build Build program to be in full swing this year. The resulting increase in construction activity will significantly have an impact on the sale of commercial vehicles. This favorable environment bodes another positive year for Hyundai,” she said.