Sales of Hyundai Asia Resources Inc. (HARI) dipped 11 percent with fewer passenger-car and light-commercial-vehicle (LCV) rolling out of its showrooms in September.
Hyundai registered a 13-percent drop in passenger car and an eight-percent drop in LCV sales in September alone. The Korean carmaker sold 1,612 units last month.
At 14,883 units, sales in the past nine months were also down as Hyundai continues to deal with supply issues, the company said. While passenger-car sales were up one percent, LCV sales were down nine percent from January to September, leaving the company with an overall decline of four percent.
These recent sales numbers, however, have not dampened Hyundai's spirit in selling to the Philippine market as economic indicators remain positive. The Korean carmaker is also optimistic as its products continue to be a popular choice among Filipino car buyers.
"With the increasing market demand for Sonata and our new models, Accent and Elantra, Hyundai is strongly positioned to keep our growth in the passenger-car segment while we continue to shore up competitiveness of our dealerships and maintain our optimism on our full sales performance with expectations of reduced uncertainty from a stable economy, better supply situation, and improved consumer outlook with the onset of the holiday season," said HARI president and chief executive Maria Fe Perez-Agudo.
Despite its September performance, Hyundai is still way ahead of Honda by more than 4,500 units in terms of sales.