We are almost near the end of fourth quarter, but Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, is still making a huge statement in the local automotive industry as their vehicle sales in October went up high with 33-percent increase from 2,462 units in 2016.
This made an impact to the 2017 January to October total sales of 30,717 units—a 12-percent growth from last year’s sales of 27,483 units.
“As the Season of Giving approaches, Hyundai is thrilled to offer our consumers exciting new offerings and value for money deals. We are committed to put our efforts in full swing through modern premium products and customer service,” said Fe Perez-Agudo, President and CEO of HARI.
Hyundai still poses a big threat in the passenger car segment as the Korean car maker registered 22-percent from 1,726 unit sales in October 2016 to 2,113 unit sales this year. Their major contribution to passenger segment growth—the best-selling Hyundai Accent.
According to HARI, the Accent has recorded an impressive sales double growth of 88-percent from 758 units in October 2016 to 1,424 units in October 2017. On the other hand, Hyundai’s best-selling van—the Hyundai Grand Starex—registered an amazing year-on-year growth of 22-percent in October, from 290 units to 354 units.
The Light Commercial vehicles sales jump from 736 unit sales in October last year to 1,153 units sales this year, recording a 57-percent growth. The H-100, under the LCV segment, had a very significant growth of 117-percent from 169 units last October 2016 to 366 units this October 2017.
HARI also shared that “The Philippines’ gross domestic product surpassed expectations as it grew by 6.9-percent during the third quarter of 2017. This has been the highest growth among the past three quarters.”
According to the Philippine Statistics Authority, the main drivers of economic growth are exports and imports. The interplay of strong economic growth and competitive automotive industry continues to strengthen the consumer appetite for goods, such as vehicles. Hyundai looks forward to achieve more milestones in its operations in the Philippines.