Besides the seasonal downtrend at this time of the year, HARI is still plagued by the global supply shortage from Hyundai. This not only delays product delivery, but also deters some positive sales outcomes. On the other hand, fresh supplies from South Korea meant that there were 453 new happy Tucson owners last month, which contributed significantly to the 3% Light Commercial Vehicle (LCV) growth.
“Against a slower domestic economy, global market uncertainties and the seasonal weakness of auto sales in August, consumer demand for Hyundai products continues to be resilient as evidenced by growing customer orders. Supply setbacks, however, continue to lag delivery to our customers and dampen our sales growth. For the remainder of the year, we expect that with a more favorable supply situation, we will be able to keep our sales performance on a positive growth track,” remarked Ms. Maria Fe Perez-Agudo, President and CEO, Hyundai Asia Resources Inc.
Even with the timely departure of the Hyundai Getz from its line-up, HARI keeps a positive sales standpoint for the remaining months of the year. An improved supply chain and the upcoming Christmas rush should keep sales figures up, putting HARI employees in line for another big year-end bonus.