MANILA, Philippines - Sales of Hyundai vehicles plunged 25% in November, according to official distributor Hyundai Asia Resources, Inc. (HARI).
A total of 1,673 Hyundai units were sold in November, below the 2,217 units sold in the same month last year.
"Although the EON, i10, and Genesis Coupe models posted positive growth, delayed arrival of other models, especially in the light commercial vehicle segment, slower total sales for said month," HARI said.
But in the 11 months to November, sales went up 8% to 20,491 units from 18,922 units a year ago.
HARI also noted passenger car (PC) sales grew 27% to 12,631 units in January to November from 9,913 last year.
"The progress in the PC segment was mainly attributed to the EON, Accent, and Elantra models," HARI said.
Moving forward, Ma. Fe Perez-Agudo, HARI president and chief executive officer, said she expects sales growth to be sustained until year-end, banking on the strong consumer spending and a "bullish" Philippine economy.
"Continued positive consumer outlook, backed by a bullish Philippine economy, keeps inventory moving, particularly among our best-selling PC models. Come year-end, and into 2013, we expect to sustain, or even exceed, our positive performance," Agudo said.