Hyundai sales up 33% in October

MANILA, Philippines — The local unit of Korean automotive brand Hyundai reported a 33 percent growth in sales in October, sustaining  its strong growth momentum.

Hyundai Asia Resources Inc. (HARI) yesterday said sales reached 3,266 units last month compared to 2,462 units a year ago.

October’s strong performance brought the company’s 10-month sales to 30,717 units, up 12 percent year on year.

The passenger cars segment grew sales  22 percent year-on-year to 2,113 units.

HARI attributed the segment’s growth to the robust demand for the Accent which sold 1,424 units last month, nearly double than its output in the same month last year.

The firm’s light commercial vehicle offerings, meanwhile, saw a 57 percent jump to 1,153 units. Sales of H-100 surged 117 percent to 366 units.

HARI said the interplay of strong economic growth and competitive automotive industry continued to strengthen the consumer appetite for goods such as vehicles.

“With this, HARI looks forward to achieving more milestones in its operations in the Philippines,”  said Ma. Fe Perez-Agudo, president and CEO of HARI.

“As the season of giving approaches, Hyundai is thrilled to offer our consumers exciting new offerings and value for money deals. We are committed to put our efforts in full swing through modern premium products and customer service,” Agudo added.