MANILA, Philippines - For the first five months of the year, Hyundai Asia Resources, Inc. (HARI) increased total sales by 29 percent or 10,395 units sold, up from 8,062 sold last year, driven by robust movement of Hyundai’s best-selling passenger cars (PC).
Sales of the Accent went up by 95 percent, with sales averaging 674 units per month from 345 units per month in the same period last year. Likewise, the combined sales of the i10 and the newly-launched EON boosted sales by a whopping 186 percent .
For May alone, total PC sales increased by 8 percent compared to the same month last year, greatly offsetting the impact of supply setbacks, specifically with respect to Grand Starex, on LCV sales.
“As we step into the third quarter, we remain optimistic that our best-selling and newly-launched models will sustain their vigorous performance, helped by continued positive consumer sentiment encouraged by stable and strong macroeconomic fundamentals,” said Ma. Fe Perez-Agudo, President and CEO of Hyundai Asia Resources, Inc.
The Philippine economy rose by 6.4 percent in the first quarter of this year, the highest among ASEAN nations. The outlook remains positive as low prices continue to support strong household consumption along with accelerated government spending and continued development of the services sector. The build-up of foreign exchange reserves and active debt management by the government has also reduced the economy’s vulnerability from short-term challenges of global uncertainties, mainly in the Euro zone.