MANILA, Philippines - Hyundai Asia Resources Inc. (HARI), the local distributor of South Korea’s Hyundai vehicles, said sales expanded eight percent in 2012 from the previous year, supported by growth in the passenger car (PC) segment.
In a statement yesterday, HARI said it sold 21,996 units in the January to December period, last year higher than the 20,297 units in 2011.
It said the PC car segment anchored the higher sales performance as it rose 25 percent to 13,382 units last year.
“The Eon, Hyundai’s newest sub-compact PC model that was launched in 2012, shoved PC sales up to complement the good performance of the Accent (16 percent) and the Elantra (27 percent),” HARI said.
Light commercial vehicle (LCV) sales, meanwhile, declined 10 percent to 8,614 units in 2012 compared to the previous year.
For the month of December alone, HARI’s sales reached 1,505 units, up nine percent from the same month in 2011.
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Higher sales were seen in December due to the strong demand for LCVs.
LCV sales reached 754 units in December, posting a 28-percent increase year-on-year.
PC sales, meanwhile, reached 751 units last month, slowing by five percent from 2011.
Ma. Fe Perez-Agudo, HARI president and chief executive officer, said the firm remains upbeat higher sales could be seen this year given the country’s strong economic growth and as 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,” she said.
She earlier said HARI’s sales can grow five to 10 percent this year from 2012, citing strong demand for Hyundai vehicles.
Amid positive outlook for sales, HARI is looking to launch a new variant of the Accent this year.
Agudo said the new diesel-powered Accent hatchback will be available by next month.