HYUNDAI Asia Resources Inc. (HARI), the official importer and distributor of Hyundai vehicles in the Philippines, said it sold a total of 21,405 units from January to November this year, up 9 percent from last year on the back of srong demand for its passenger cars.
In November, it said sales reached 1,730 units, up one percent year-on-year. Hyundai said the growth in sales was mainly buoyed by the Passenger Car category (PC), which posted a 23 percent year-to-date growth with 14,962 units sold from 12,174 units in the same period last year.
HARI is confident it will gain higher sales in December driven by consumer demand and competitive promotions.
Sales of Light Commercial Vehicles (LCV) grew 5 percent, equivalent to 567 units sold in November this year, up from last year’s 540 units. Year to date, the LCV category posted a 13-percent decline with 6,443 units sold as compared to the same period last year.
“We are committed in giving delightful products and exciting services as our way to bring joy to our customers this holiday season,” Ma. Fe Perez-Agudo, HARI president and chief executive, said.
In the third quarter, the Philippine economy hit a slight bump with a 5.3-percent GDP growth rate, lower than government target and consensus estimates of at least a 6.5-percent growth.