Automobile sales of Hyundai Asia Resources Inc. rose 12 percent to 34,025 units in the first 11 months from 30,469 units year-on-year.
HARI president and chief executive Ma. Fe Perez-Agudo said sales of passenger cars and light commercial vehicles remained buoyant due to the strong economy and the improving purchasing power of the middle class.
“2017 proved to be upbeat for Hyundai, reflecting our driven and empowered industry. We expect to maintain this growth momentum, thereby contributing to the overall growth of the economy for 2017,” she said.
Sales grew of passenger cars rose 7 percent to 23,167 units from 21,637 on year, with top-selling Accent leading the growth with a 34-percent surge from 11,156 to 14,899 units.
Light commercial vehicle sales increased 23 percent to 10,858 units from 8,832.
Flagship vehicle Grand Starex remains the biggest contributor with a 14-percent growth from 3,371 to 3,832 units sold.
Meanwhile, the H-100 made a huge comeback with a 59-percent growt, 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.
The company expects to close 2017 with combined passenger cars and commercial vehicles sales of 37,500 units, up 11.3 percent from 33,695 units in 2016.
Agudo noted that 2017 was a banner year for cars and light commercial vehicles and Hyundai trucks and buses as well.
Sales of Hyundai’s commercial vehicle (trucks and buses) jumped 883 percent from last year’s, eclipsing the previous all-time-high sales. They are poised to account for 10 percent of total vehicle sales in the next five years and double in scale by 2025.