Performance and Drivers
Hyundai Asia Resources Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, registered positive year-to-date growth in Passenger Car and Light Commercial Vehicle sales, growing by 12% from 30,469 units sold in January-November 2016 to 34,025 units sold in January-November 2017.
Further breaking it down, within the said period, the PC segment grew by 7% from 21,637 to 23,167 units sold, with top-selling Accent at the forefront with a phenomenal 34% growth from 11,156 to 14,899 units sold. Likewise, LCV sales rose by 23%, from 8,832 to 10,858 units sold. Flagship vehicle Grand Starex remains the biggest contributor with 14% growth, from 3,371 to 3,832 units sold. Meanwhile, the trusty H-100 made a huge comeback with 59% growth, from 1,927 units to 3,066 units sold, capping the segment’s impressive performance and underscoring Hyundai’s commitment to empower local entrepreneurs with reliable and versatile mobility solutions.
Sales and Economic Outlook
The Philippine economy surpassed expectations in Q3 growing by 6.9%, the fastest in the year, on the back of increased public spending and furthered by advancements in the service and industry sectors. Given this bright prospect, HARI expects to close 2017 with combined PC and CV sales of 37,500 units, solidly contributing to the automotive industry’s yearend target of 450,000 units.
About HARI
Hyundai Asia Resources, Inc. , the official distributor of Hyundai passenger and commercial vehicles in the Philippines, has been hailed four times as Hyundai’s Asia-Pacific Distributor of the Year (2005, 2006, 2008, and 2013), and Hyundai Global Distributor of the Year 2010 and 2016. HARI boasts of a 42-strong dealer network, superior after-sales, dealer and customer relations support, and an enviable roster of best-selling vehicles, including the Grand Starex, Grand Starex Super Express, Santa Fe, Tucson, Veloster, Sonata, Elantra, Accent Hatchback, Accent Sedan and EON.