Hyundai Resources says Q1 car sales up 44%

Car sales for leading car importer Hyundai Resources Inc. (HARI) increased by 44 percent in the first quarter from a year earlier, HARI reported Thursday.   HARI sold 6,767 units from January to March, up from 4,712 units in the same period last year.   Models such as the i10, Accent and Elantra drove the 127-percent increase in passenger car sales to 4,297 units from 1,889, said HARI president and CEO Ma. Fe Perez Agudo.   Sales for March alone increased by 37 percent to 2,245 from 1,633 units.   HARI is targeting monthly sales of 300 units for Eon, the India-made compact car it launched during the Manila International Autoshow last month.   "As the Philippine economic landscape continues to move from good to great, so does consumer confidence and Hyundai's outstanding sales performance for first quarter,” said Agudo.   “We are optimistic that this trend will extend into the second quarter, with the Elantra making waves as Car of the Year for 2012, the launch of the new Hyundai Eon, and our consistent brand promotion efforts," she added.   The outlook for the rest of the year remains bright, the HARI official claimed. She cited the Bangko Sentral ng Pilipinas survey, which showed high consumer expectations among Filipinos.   The survey revealed respondents perceived this quarter and ahead as favorable for purchasing consumer durables.   Agudo also cited availability of jobs, higher salaries, good governance policies, steady investment inflows, appreciation of the peso, and remittances from overseas Filipinos, as factors boosting consumer confidence. —AE/VS, GMA News