Hyundai's January to August sales up 19%: PCs register strong 59% growth

MANILA, Philippines - Hyundai Asia Resources, Inc. (HARI) posted 19 percent growth in sales to 15,735 units sold in the first eight months of the year from 13, 271 units sold in the same period last year. The Passenger Car (PC) segment generated the bulk of the sales, rising by 59 percent, to 9,940 units sold versus the 6,241 units sold in the prior year. This noteworthy performance was spearheaded by the i10, Accent and Elantra models that grew by 60 percent, 57 percent and 55 percent, respectively. The new Eon hatchback is also picking up with an 18 percent share of total PC sales.

“In the first eight months of 2012, Hyundai has pulled off consistent growth in total sales, particularly in the Passenger Car (PC) segment, thanks to the huge demand for our products. We expect this positive trend to extend all the way to yearend, with strong economic fundamentals and HARI dealer network’s push for even more innovative customer care offerings to drive the business full speed ahead,” said Ma. Fe Perez-Agudo, HARI President and CEO

August alone experienced a 2-percent increase, again with the PC segment pulling up the growth by 72 percent to 1,014 units sold compared to 591 units sold in the same month a year ago. 

The Philippines posted a robust economic growth of 5.9 percent in the second quarter of 2012 or 6.1 percent in the first semester, outperforming most of its regional neighbors. The service sector was a key growth driver with 7.6 percent expansion. In addition, government efforts to support growth through spending have led to a 45.7 percent rise in public construction. Maintaining this growth momentum while managing inflation within the 3-5-percent target range and keeping debt under control should improve the country’s economic resiliency amidst a tough global economic environment for the rest of the year.