Hyundai sees sales growing 90% this year on high demand for SUV Tucson

MANILA, Philippines - Hyundai Asia Resources Inc. expects sales growing by 90 percent this year on the market’s strong demand for its compact sports utility vehicle (SUV) Tucson.

In an interview with reporters, Hyundai president and chief executive Fe Agudo said that they have already sold 20,000 vehicles so far this year.

Agudo said the 90-percent growth, although impressive, should have been higher if not for the shortage of the Tucson. “We could have grown by 130 percent,” she noted.

Agudo said that they still need to deliver 5,000 units of Tucson. She said that they will be able to serve the back order by first quarter next year. “This situation (shortage of Tucson) is not unique to the Philippines. The shortage is global. Even China and Europe are having supply problems,” Agudo noted.

Agudo said the expected demand for the Tucson was only 200 units per month but it ballooned to 1,000 units per month. Tucson makes up 25 percent of the total sales of Hyundai. Tucson is now the number one compact SUV in the market.

Given the success of the Tucson, Agudo said they have increased the price by two percent to five percent. Agudo said that the price increase is only proper since the price before was only an introductory price.

Agudo said that Hyundai already has a full line of vehicles except for AUV, pick up and full size SUV. She said they will launch the SUV next year while the pick up will come in 2012.

Last Thursday night, Hyundai has launched Accent, a car that is expected to go head to head with the Toyota Vios. The 1.4 manual of the Accent is priced at P538,000 while the 1.6 automatic is P788,000.

Accent will be sold commercially by next year.

The Accent’s strongly-constructed body frame is designed to protect the drivers, passengers, and the fuel tank by spreading energy on the outer frame at the moment of collision, while the knee-protection pad helps protect drivers from serious knee injuries with a shielding cushion. Airbags are also installed right behind the dashboard and steering wheel to avoid plummeting to hard objects in case of accidents. Standard seatbelts also add an assurance of security.