Hyundai closes first half of 2011 with 5% growth

Thanks to strong demand for the Korean brand's passenger cars
Jul 9, 2011

Hyundai Asia Resources, Inc. (HARI), the exclusive distributor of Hyundai vehicles in the Philippines, capped the first half of 2011 with a five-percent growth in total sales, moving 10,355 units in the passenger car and light commercial vehicle categories.

HARI attributes the growth to the 18-percent rise in passenger car sales, up to 4,726 units from 4,004 over the same period last year. This despite the three-percent slide in light commercial vehicle sales, which, according to HARI, is due to the supply shortage resulting from the strong global demand for the Tucson and Starex models.

As for the five-percent growth through the first six months of the year, HARI credits this not only to the expanding market acceptance of the new Accent, Elantra and Sonata passenger cars but also to its light commercial vehicles like the H-100 and the Santa Fe.

For the month of June, Hyundai's passenger car sales peaked at 1,415 units from 871 units in 2010 for a 62-percent growth. For both passenger car and light commercial vehicle categories, Hyundai sold 2,293 units for a 13-percent increase compared to the same period last year.

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"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 chief executive Maria Fe Perez-Agudo.

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