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MANILA - Sales of Hyundai Asia Resources Inc. in May fell eight percent, dragged down by the light commercial vehicle segment.
In a statement, HARI said it sold 1,737 units last month, from 1,891 units in May last year.
Passenger car sales increased by eight percent to 1,187 units from 1,099 units last year, offsetting the impact of supply setbacks, specifically with respect to Grand Starex, on light commercial vehicle sales.
Total sales of this segment went down by 31 percent to 550 units from 792 last year.
Despite the weak performance in May, sales grew by nearly a third in the first five months, driven by its passenger cars segment.
HARI sold 10,395 units in the January to May period, up 29 percent from 8,062 units last year.
Sales of passenger cars jumped 99 percent to 6,583 units at end-May, from 3,311 units last year, while sales of light commercial vehicles fell 20 percent to 3,812 units.
Sales of the Accent model led the jump in passenger car sales at 95 percent, averaging 674 units per month from 345 last year.
The combined sales of the i10 and the newly-launched EON rose 186 percent.
“As we step into the third quarter, we remain optimistic that our best-selling and newly-launched models will sustain their vigorous performance, helped by continued positive consumer sentiment encouraged by stable and strong macroeconomic fundamentals," Ma. Fe Perez-Agudo, president and chief executive of HARI said.
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