Hyundai sustains 8% growth in sales

MANILA, Philippines - Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, registered growth of 8 percent in overall sales from January to November, with 20,491 units sold compared to the 18,922 units sold in the same period last year. In the same period, the Passenger Car (PC) segment sustained its strong performance with a 27-percent rise to 12,631 units sold versus the 9,913 units sold in January-November 2011. Hyundai’s progress in the PC segment was mainly attributed to its Eon, Accent, and Elantra models.

“Continued positive consumer outlook, backed by a bullish Philippine economy, keeps inventory moving, particularly among our bestselling PC models. Come year-end, and into 2013, we expect to sustain, or even exceed, our positive performance,” said Ma. Fe Perez-Agudo, HARI President and CEO.

Sales for the month of November alone declined by 25 percent with 1,673 units from the 2,217 units sold in November last year. Although the Eon, i10, and Genesis Coupe models posted positive growth, delayed arrival of other models, especially in the Light Commercial Vehicle (LCV) segment, slowed total sales for the said month.