Hyundai vehicle sales rise slightly in first 11 months

MANILA, Philippines — Sales of Hyundai vehicles rose slightly by 1 percent in the first 11 months of the year to 18,922 units, despite the local automotive industry’s negative sales outlook for 2011.

In a statement, official distributor Hyundai Asia Resources Inc. (Hari) disclosed that sales in November alone rose 40 percent to 2,217 units from the 1,578 units it sold in the same month in 2010. The increase for November was driven largely by an “all-time high” 81-percent growth in the highly competitive Passenger Car (PC) category.

Month-on-month, November sales posted 22 percent improvement compared to the previous month, on the back of resurging sales in both the PC and light commercial vehicle (LCV) categories, which grew by 14 percent and 38 percent, respectively.

Hyundai said it managed to post a positive performance this November despite a slower gross domestic product (GDP) growth of 3.2 percent in the third quarter of 2011 and natural calamities which hit Japan and Thailand earlier this year.

“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,” Hari explained.

“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,” added Maria Fe Perez-Agudo, president and chief executive officer of Hari.

Hari further said that the company has been expecting a positive consumer outlook in 2012 as it would 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,” the company added.