Hyundai posts 11-month sales growth of 8%

Hyundai Asia Resources Inc. (Hari) posted an 8-percent growth in sales in the first 11 months of the year even as November figures dipped.

The official distributor of Hyundai vehicles in the Philippines reported selling 20,491 units of vehicles from January to November, up from 18,922 units in the same period last year.

The passenger car segment performed strongly with a 27-percent rise in sales to 12,631 units in January to November this year from 9,913 units a year ago.

Hari said the EON, Accent and Elantra models were the company’s growth drivers.

However, sales in November declined by 25 percent with 1,673 units sold from the 2,217 units registered in November last year.

“Although the EON, i10, and Genesis Coupe models posted positive growth, delays in the arrival of other models, especially in the light commercial vehicle segment, slowed total sales for the said month,” Hari said.

Hari said it remained optimistic on the Philippine market.

“The positive consumer outlook, backed by a bullish economy, keeps inventory moving. Come yearend, and into 2013, we expect to sustain, or even exceed, our positive performance,” Hari president and CEO Ma. Fe Perez-Agudo said.