AUTO INDUSTRY NEWS

Hyundai Philippines closes 2012 with 8% growth

Hyundai Philippines closes 2012 with 8% growth image

Text: / Photos: Hyundai Press | posted January 17, 2013 13:51

Passenger car segment boosts sales with 13,382 units sold

Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, ends 2012 on a positive note with 8% growth in total sales. HARI registered a total of 21,996 units sold for the whole year from 20,297 units sold in 2011.

“The Philippine economy has surpassed its projected target growth for 2012, and consumer spending remains buoyant. With similar bullishness and optimism, we open another year, setting ambitious targets to beat last year’s sales performance. Hyundai in 2013 is all set to become truly the most beloved auto brand of the Filipino.” said Ma. Fe Perez-Agudo, HARI President and CEO.

The Passenger Car (PC) segment continued to boost sales with 25% growth, or 13,382 units sold in 2012 from the 10,700 units sold in the previous year. The Hyundai Eon shoved PC sales up to complement the good performance of the Accent (16%) and the Elantra (27%).

December 2012 alone posted 9% growth in total sales with 1,505 units from 1,375 units sold in December 2011. Likewise, total sales of Light Commercial Vehicles (LCV) increased by 28% compared to December 2011, driven by aggressive promotions of the Tucson and the timely arrival of the all-new Santa Fe and the Grand Starex.

For this year, HARI is expecting to achieve a targeted growth of 6-7%.