Hyundai car sales drop 9% in October
MANILA, Philippines - Sales of Hyundai vehicles fell 9% in October, according to official distributor Hyundai Asia Resources Inc. (HARI).
HARI sold 1,662 units in October, lower than 1,822 units sold in the same month last year, due to delays in the arrival of some models.
Passenger car sales fell 25% to 941 units in October, compared to 1,257 units in the same month in 2011. There was a 28% increase in sales of light commercial vehicles (LCV) to 721 units in October, with the arrival of new units of the Santa Fe.
For the 10-month period, sales of Hyundai vehicles rose 13% to 18,818 units, versus 16,705 units a year ago.
HARI reported a 37% jump in sales of passenger cars to 11,593 units in the January to October period. This helped offset the 12% drop in sales of LCV to 7,225 units.
HARI said there was strong sales of the Accent and EON in the 10-month period.
"The sustained bullish outlook of the Philippine economy along with the overwhelming raves and reception that our newly launched models received, including the accolade given our recently introduced all-new Santa Fe, augurs positive year-end sales for Hyundai in the Philippines," said Ma. Fe Perez-Agudo, HARI president and chief executive officer.