Korean auto manufacturer Hyundai is looking at building an automobile manufacturing plant in the country as part of its regional integration in the ASEAN.

In an interview with reporters at the sidelines of yesterday’s Philippine Korea Business Forum at the Manila Hotel yesterday, Richard L. Lee chairman emeritus Hyundai Asia Resources Inc. (HARI) said they are now in the process of identifying which model in the Hyundai line they can build here in the Philippines.

“We are in talks for a manufacturing plant in the Philippines because that is for the ASEAN regional integration,” Lee explained.

Lee said that aside from the Philippines, the other countries which are part of the regional integration are Indonesia, Malaysia, Thailand and Vietnam.

“We are looking forward to this regional integration,” Lee said. Although Hyundai is the third largest seller of vehicles in the country, it does not have a manufacturing plant here yet.

Lee explained that each country that is part of the regional integration will produce certain models. They are now in the process of selecting which model should be produced in each country.

At the same conference, HARI president Fe Perez Agudo said they have already revised their yearend target for HARI to flat growth. On the other hand, for the Alliance of Vehicle Importers and Distributors (AVID), Agudo said the growth will be five percent. Agudo is also the president of AVID and Hyundai is the largest member of the group.

AVID maintained a positive growth target after a slight increase in sales for the first 10 months of 0.1 percent to 20,340 units. Sales of vehicle importers bucked the declining trend in auto sales as they posted an 18 percent increase in sales for October when compared to the same month in 2010.

“Strong sales recovery in October bodes well for positive performance of AVID for the remainder of the year with the boost arising from expectations of improved supply condition and favourable consumer outlook on better cashflow prospects triggered by holiday bonuses and overseas remittances,” Agudo said.

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Ford Philippines announced yesterday its best all-time monthly performance in September with retail sales rising 57 to 965 units from a year ago.

In a statement, the firm said Ford’s record September was led by another robust month from the increasingly popular All-New Ford Fiesta, which delivered retail sales of 345 units — its best monthly performance since being launched last year.

On Oct. 15, Ford Philippines will celebrate the first anniversary of the class-leading Fiesta – Ford’s best-selling nameplate in the Philippines – with a grand get-together in Manila of Fiesta owners, Ford Club Philippines members and the Fiesta Facebook community.

“It’s so exciting to see these incredible sales numbers, and particularly the way our customers embrace the All-New Fiesta, which continues to be one of the leaders in the highly competitive small car segment,” said Randy Krieger, president, Ford Group Philippines.

The popular Ford Everest posted sales of 320 units in September, up 47 percent from a year ago and the strongest monthly sales since December 2009.

“These terrific numbers provide us with enormous confidence as we launch the All-New Explorer and gear up for the launch of the All-New Ford Ranger early next year, two vehicles we know that our customers will love,” Krieger said.

Ford’s overall sales continue to be robust, rising 45 percent year-over-year to 7,129 and making Ford the fastest growing automotive brand in the Philippines this year.

The All-New Fiesta has accounted for sales of 2,638 units year-to-date, while the Ford Everest has booked total retail sales of 2,091 units.

By Ma. Elisa P. Osorio, Philippine Star

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Hyundai Asia Resources Inc. (HARI) announced yesterday a 26-percent decline in August sales to 1,419 units from 1,921 units a year ago due to supply limitations.

Passenger car sales dropped substantially, particularly in the sub-compact segment, with the stoppage of Getz model production which recorded marked sales in the prior period. On the other hand, light commercial vehicle sales grew by three percent with the strong performance of Tucson and the H100.

Meanwhile, HARI sold a total of 13,271 units from January to August 2011. This represents a four percent decline from the same period last year. While there was softer growth in the LCV segment, PC sales grew by four percent on the back of significant expansion in the sales of newcomer Hyundai Elantra, Midsize PC bestseller Hyundai Sonata and sports sedan Genesis Coupe.

“Against a slower domestic economy, global market uncertainties and the seasonal weakness of auto sales in August, consumer demand for Hyundai products continues to be resilient as evidenced by growing customer orders,” HARI president and chief executive officer Maria Fe Agudo said in a statement.

“Supply setbacks, however, continue to lag delivery to our customers and dampen our sales growth. For the remainder of the year, we expect that with a more favorable supply situation, we will be able to keep our sales performance on a positive growth track,” she added.

HARI’s sales outlook remains optimistic for the rest of the year with expectations of reduced uncertainty from a stable domestic and global economy, better supply situation and improved consumer outlook from increased consumer liquidity or cash flow from the yuletide bonuses and stronger OFW remittances during the last quarter of the year.

The firm noted that combined with the seasonal downtrend in auto sales for August, global demand-supply gap continues to affect the timeliness of product delivery which in turn leads to increased unmet orders for HARI and deter more positive sales outcomes.

Consumption trends for the first seven months of the year showed that car buyers steadily snapped the new Accent, the new Elantra, the Sonata, and the Genesis Coupe. In August, with fresh supplies of the bestselling Tucson, sales rose by 123 percent or 453 units sold, contributing significantly to the 3 percent growth in total LCV sales. On the premium side, despite supply constraints, the Grand Starex remains a favorite in its category.

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The local automotive industry reported a decline in sales for the first eight months of the year due to the effects of the disasters in Japan that limited the production and supply of some models.

The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) in a joint report showed a 4.1 percent decline in January to August sales from a year ago level. During the first eight months of 2011, total industry sales stood at 93,108 units, lower than the 97,122 units recorded a year ago.

Month-on-month, however, the August sales performance was slightly higher at 11,558 from 11,550 in July due to introduction of new model, continuous promotion and availability of units.

Toyota Motor Philippines Corp. sold 34,190 units or 36.72 percent of total market share.

This was followed by Mitsubishi Motors Philippines Corp. with sales of 21,182 units or 24.43 percent market share. Third was Honda Cars Philippines Inc. with 9.73 percent market share or 9,062 units followed by Ford Motor Company Phils. Inc. with 8.81 percent or 8,200 units and followed by Isuzu Philippines Corp. with 6.72 percent or 6,259 units.

Sales of passenger cars registered a 6.8 percent growth compared to last July’s figure but lower when compared from a year ago level.

Commercial vehicle sales decreased by 3.2 percent to 7, 532 in August from 7,782 units in July.

Philippine Star

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Filed under: Car Buying, Volkswagen, Diesel

Through the end of July, sales of diesel vehicles in the United States were up 38.5 percent, compared to the same seven-month period in 2010. Led by the Volkswagen Jetta TDI and Golf TDI, diesel vehicles appear to have escaped the quake-related supply issues that crippled hybrid vehicle sales for months, though they’re tally of 8,653 vehicles sold in July still only represents 0.82 percent of the total market.

Sales of the segment leader, the Jetta TDI, were 5,206 last month, bringing the diesel sedan’s year-to-date total to 56,717. The oil-burning Golf didn’t enjoy nearly the same level of demand, but its sales of 966 units in July landed the hatchback in second place among all diesel vehicles. In third, with sales ringing in at 562 units was the diesel-fueled BMW X5 xDrive35d.

Looking for more details? Head over to Hybrid Cars for a model-by-model breakdown of diesel vehicle sales for July 2011.

U.S. diesel vehicle sales up 38.5% in 2011, VW Jetta TDI leads pack originally appeared on Autoblog on Tue, 09 Aug 2011 13:30:00 EST. Please see our terms for use of feeds.

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Filed under: SUV, Crossover, Jaguar, Land Rover, UK

Land Rover and Jaguar aren’t exactly setting the sales charts ablaze these days, but the North American President of the British makes is bullish about the future. Automotive News reports that Andy Goss, Jaguar Land Rover North America’s new boss claims that Land Rover could hit 50,000 sales by 2012, while Jaguar could crest the 50k mark in annual U.S. sales within the next few years.

The key to growth at Land Rover and Jaguar in a mature market will obviously be new product, and Tata Motors’ luxury utility brand is a lot closer to making its mark. Land Rover sold 31,864 units in 2010, and the make is already past 20,000 vehicles sold through July of 2011. Add the compact and stylish Evoque in 2012, and Goss feels the 50,000 mark is well within the brand’s reach.

Hitting U.S. sales of 50,000 units could be quite a bit trickier for Jaguar, as the Leaping Cat only moved 13,340 units in 2011. Goss again feels fresh product will help move more metal, with a sports car and BMW 3 Series-fighting sedan are at the top of the list. Another, smaller engine to compliment the excellent but somewhat thirsty 5.0-liter V8 could be on order, though such a powerplant could could take a few years to arrive Stateside.

What may not arrive is the small crossover we’re sure many Jaguar dealers are hoping for, but Goss and company have plans for their retail stores anyway. Goss tells AN that dealers will likely be asked to revamp their facilities, though corporate has yet to bring up any changes to the Jaguar dealer council.

Land Rover, Jaguar each gunning for 50,000 sales per year in America originally appeared on Autoblog on Wed, 17 Aug 2011 11:01:00 EST. Please see our terms for use of feeds.

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Filed under: Car Purchasing, Sedan, Hatchback, Subaru

According to Ward’s Automobile, Subaru brass are expecting the 2012 Impreza to market around sixty,000 models a year, or fifty percent once again as a lot of as the car’s latest forty,000-unit complete. Subaru executive vice president of North The united states Tom Doll says the vehicle fills gaps in the company’s lineup that prevented it from becoming as competitive as it could have been.

Subaru claims the new Impreza will return 36 miles per gallon on the highway, a figure that would set the car on the leading of the all-wheel-generate pile for fuel economy. The fuel mileage figures occur courtesy of a new-for-2012 two.-liter boxer 4-cylinder reigning in 148 horsepower. The approaching Impreza will also be lighter than the outgoing model, creating fuel-sipping a small less complicated.

With all the new tweaks, Subaru is hoping Impreza product sales can push the brand’s overall total from 264,000 automobiles last yr to closer to 300,000. That’s a heady target to be sure, but the company is confident sufficient in the new car’s appeal to make a daring prediction. Only time will inform if these kinds of hopefulness is effectively founded.

Dwell images copyright (C)2011 Jeff Glucker/AOL

[Source: Ward's Auto - sub. req.]

Subaru predicts 50% revenue hike for 2012 Impreza initially appeared on Autoblog on Thu, 28 Apr 2011 17:58:00 EST. Please see our terms for use of feeds.

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Filed under: Car Buying, Ford, GM

General Motors posted its seventh consecutive sales gain for the month of March, with 206,621 total sales. A good month, no doubt, but Ford had a better month for just the second time since 1998. Ford last bested GM in February, 2010. The Blue Oval posted sales of 212,295, thanks in part to a 21-percent jump in truck sales.

That’s a victory of 5,674 units for the Dearborn, MI-based automaker, but the real drubbing came in the ongoing battle of Ford Vs. Chevrolet. The Bowtie brand moved 148,197 units, compared to 203,794 for Team Ford. That’s a 28-percent sales jump for the Blue Oval, which admittedly amped up fleet sales for the month, but retail sales were also up 14 percent.

Ford had plenty of hot products moving off dealer lots, with 53,272 F-Series trucks sold, a record 9,787 Fiestas and record March sales for the Escape and Fusion. One factor holding back GM sales was a $700 per vehicle cutback in incentive spending, though that will probably help the automaker’s bottom line more than a few extra Malibu sedans rolling off the line.

While Ford was victorious in March, GM is still up for the year by 97,000 units. Stay tuned to Autoblog for our monthly By the Numbers update, which will lay out sales totals for all of the major automakers selling in the U.S.

[Source: Automotive News - sub. req.]

Breaking: Ford beats GM in March sales originally appeared on Autoblog on Fri, 01 Apr 2011 13:56:00 EST. Please see our terms for use of feeds.

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Filed under: Car Buying, Hyundai, Earnings/Financials

Hyundai is holding a hot hand with its current lineup. Sales are climbing and perception of the brand is swinging strongly in the right direction. Not everyone is singing just yet, however, because Hyundai dealers are apparently lagging behind the competition in one very important area: profits.

In 2010, the industry-wide average dealer profit was 2.1 percent of total sales. Hyundai has seen its average dealer profit rise over the last few years, but according to Automotive News, it’s still below industry average; last year, Hyundai dealers earned 1.9 percent. On the flip-side, Honda dealers enjoy an average profit of nearly three percent of total sales.

One area where dealers see hefty profits is from the service bays and parts sales. Ford and Chevrolet dealerships might see 85 percent of their overhead costs taken care of by the service department. A typical Hyundai dealer may earn enough to handle 40 percent.

Hyundai dealers also have to contend with shortages of their popular models and weak used-car sales. Yet as more folks buy Hyundai vehicles, the dealers will increase the speed at which they catch up with the competition. More vehicles on the road will lead to a rise in trips to the service bay and parts sold. More used current-generation vehicles will help turn around used-car sales. Hyundai dealers know this, and 85 percent of the nearly 800-strong network is operating in the black.

Photos copyright (C)2011 Zach Bowman / AOL

[Source: Automotive News - sub. req.]

Report: Hyundai may be piling on the sales, but dealers aren’t piling on the profits originally appeared on Autoblog on Tue, 22 Mar 2011 16:29:00 EST. Please see our terms for use of feeds.

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Filed under: Sedan, Performance, SUV, Europe, Porsche, Earnings/Financials, Luxury

Porsche tripled its profits in 2010, thanks largely to profits from the Cayenne and Panamera. The Stuttgart-based automaker reported $960 million in profits before taxes and interest in 2010, up from $227 million the year before.

More impressive is the fact that those numbers represent a shortened fiscal year in 2010, meaning these things are moving like the proverbial hot cakes. Porsche’s five-month revenue total increased 59 per cent to 3.87 billion Euros.

Porsche is hoping to expand its global sales to 200,000 by 2018, or roughly double the number of dreamboats it moves now. With sales climbing this quickly, that goal doesn’t seem too far off.

All Photos Copyright (C)2011 Michael Harley/AOL

[Source: BusinessWeek]

Profit Proliferation: Porsche riding high on Cayenne, Panamera sales originally appeared on Autoblog on Thu, 17 Mar 2011 17:40:00 EST. Please see our terms for use of feeds.

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