Hyundai PH starts last quarter of 2012 with 13% sales growth

But October sales drop by 9%
Nov 19, 2012
CAR BRANDS IN THIS ARTICLE Philippine Car News - Hyundai PH starts last quarter of 2012 with 13 percent growth

Hyundai Asia Resources Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, is starting the last quarter of 2012 with a year-to-date sales total of 18,818 units sold from January to October this year. This represents a 13-percent increase from the 16,705 units sold in the same period last year.

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Although HARI's sales in the light commercial vehicle segment dropped bgy 12 percent year-to-date, its passenger car segment sales grew by 37 percent with 11,593 units sold from January to October, as compared with the 8,474 units sold in the same period last year. HARI attributes its growth in the passenger car segment to the market's acceptance of the Eon and the Accent.

The month of October, however, saw HARI's sales drop by nine percent with only 1,662 units sold compared to last year's 1,822 units. Though HARI experienced a slowdown in sales for its passengers cars in October due to the delayed arrival of some models, its light commercial vehicle sales for the month grew by 28 percent, thanks to the timely introduction of the all-new Santa Fe.

"The sustained bullish outlook of the Philippine economy, along with the overwhelming raves and reception that our newly launched models received, including the accolade given to our recently introduced all-new Santa Fe, augurs positively for the year-end sales of Hyundai in the Philippines," said HARI president and chief executive Ma. Fe Perez-Agudo.

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