The local distributor of Hyundai vehicles has reported a rise in its first quarter sales despite the lack of supply of its best-selling models.
Maria Fe Perez-Agudo, president and CEO of Hyundai Asia Resources Inc. (HARI), said the company sold “more than 5,000" units in the first three months of the year compared to 4,572 units sold in the same period in 2010.
Agudo also reported a rise in HARI’s year-to-date sales despite the international supply shortage of models like Accent, Sonata, and Tucson.
She added that South Korea’s Hyundai Motor Co. has no plans to ramp up its annual production capacity of 6.3 million units to meet the global demand for Hyundai vehicles pegged at 7.5 million units this year.
Hyundai models sold locally are all shipped from South Korea.
Agudo expressed optimism that HARI can secure enough allocations from the South Korean automaker to hit its 20-percent growth target over last year’s sales of 20,172 units.
The company chief said HARI is Hyundai’s No. 1 distributor in Asia and the third-largest vehicle seller in the Philippines. — PE/JE, GMA News
article source - gmanews.tv
