MANILA, Philippines — Sales of all imported Hyundai cars jumped 40 percent in the first month of the year to 2,153 units over 1,541 units sold in January 2011 boosted by brisk sales of its passenger car (PC) models.

“We open 2012 with a bang in our sales performance. With strong and continued demand for our best-selling models, the entry of even more exciting ones, a strong peso, sustained consumer spending power, and overall favorable economic environment, we have high hopes that this year will be another good one for Hyundai,” said HARI president and CEO Ma. Fe Perez-Agudo.

Notably, HARI’s January sales also grew 57 percent higher than its December 2011 sales of 1,375 units as PC sales soared 63 percent while the light commercial vehicle (LCV) segment went up 47 percent.

Based on HARI data, the PC category saw an 84% boost to 1,286 units sold from the 698 sold in the same month of the previous year. Total ligh commercial vehicle sales had a modest start with 3% increase or 867 units sold compared to last year’s January performance.

The year started with a huge hike in sales of Hyundai’s PC models as the i10, Accent and Elantra became bestsellers. In the LCV category, more customers preferred the Tucson model, thus increasing total LCV sales.

Agugo said that growth in the automotive sector is receiving big boost from the market optimism on the Philippine economu.

“The Philippine economy remains optimistic with stable growth from strong economic fundamentals, positive investor sentiment coupled with a prospect of a boom in infrastructure and mining, “ Agudo said.

Furthermore, with ample liquidity and as financial institutions offer lower interest rates, consumers’ spending power is expected to be on a sustained high, Agudo said. (BCM)