Hyundai sales surge 40% in Nov

MANILA, Philippines - Vehicle importer Hyundai Asia Resources Inc. (HARI) reported a 40-percent increase in sales to 2,217 units in November from 1,578 units a year ago.

In a statement, HARI said their sales were driven by the 81 percent growth in passenger car category.

“As we finish the year with a positive growth, we look forward to promising prospects in 2012. We will remain committed to sustaining our efforts to surprise car buyers with new value propositions and actively respond to our customers’ needs,” Maria Fe Perez-Agudo president and CEO, Hyundai Asia Resources, Inc. said.

Month-on-month, November sales posted a 22-percent improvement from the prior month, on the back of resurging sales in both the PC and LCV categories which grew by 14 percent and 38 percent, respectively.

The strong sales recovery in November brought Hyundai’s sales in the first 11 months of the year to 18,922 units or one percent growth from the previous year, beating industry’s negative sales outlook in the wake of slower GDP growth of 3.2 percent in the third quarter of 2011 and natural calamities which hit Japan and Thailand.

With better supply situation, all models across the Hyundai portfolio surged this November, led by newcomers and winds of change compact sedans – the Accent and the Elantra. Demand across Hyundai brands has been outstripping supply and buyers have placed advance orders across the Hyundai dealer network.

Consumer outlook in 2012 will be hinged on expectations of improved domestic economy, reduced external volatilities from US and EU markets, and continued inflows from overseas Filipino remittances and foreign direct investment. Easing of supply constraints will help meet accelerating demand for Hyundai models and further boost sales.