Hyundai posts 5% sales hike in 1st semester

Manila, Philippines - Korean auto maker Hyundai Asia Resources Inc. (HARI) reported yesterday a five percent increase in sales to 10,355 units in the first half of the year from a year ago level.

Data released by HARI showed that the sales performance for the first half was largely driven by the 18 percent rise in passenger car sales to 4,726 units from 4,004 units sold in the same period last year. Sales of light commercial vehicles slipped three percent on the back of supply shortage resulting from strong global demand, particularly for the Tucson and Starex models.

In June, sales of Hyundai passenger cars peaked to 1,415 units from 871 units a year ago for a 62 percent growth.

The five percent sales growth in the first semester of 2011 was due to the expanding market acceptance of the new Accent, Elantra, and Sonata models, including the H-100 and Santa Fe models. This month’s growth is an affirmation of Hyundai’s relentless pursuit to push the standard of the Filipino car-buying experience at the dealerships with the ongoing rollout of the Hyundai Global Dealer Enhancement Program.

At the same time, HARI maintains its positive sales outlook for the second semester considering a bullish investment climate revved up by Moody’s investment upgrade of the Philippine’s credit rating from Ba3 to Ba2 and steady interest rates despite higher inflation; increasing remittances and strengthening peso on encouraging developments from Europe, MENA and Japan; expected increase in consumption demand as the holidays are approaching accompanied by the Philippine government’s resolve to increase infrastructure and social spending; and aggressive customers warming up to the Hyundai brand and expectant of new models to be launched by HARI as it celebrates its 10 years in the industry. 

“As we continue to institutionalize Hyundai’s global dealership standards among our dealers across the country, we are confident that it will further enhance total customer experience with our brand and ultimately keep us on an upward track in our sales growth and sustain market leadership in specific segments of the domestic automotive industry,” said HARI president and CEO Maria Fe Perez-Agudo