Hari achieves highest monthly sales to date

Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, closed its July 2017 sales with a record-high of 3,594 units—a 21 percent growth from the same month of 2016. This propelled HARI’s year-to-date sales to 20,960 units, an 8 percent growth from last year’s 19,336 units, solidifying HARI’s spot as the third highest selling brand in the automotive industry.

Improvements in product availability contributed to the company’s good performance and high market preference.

Leading HARI’s impressive July performance in terms of volume is its Passenger Cars (PC) segment which grew by 12 percent from 2,296 units 2016 to 2,564 units in 2017. The significant jump in sales is again attributed to the Accent which sold 1,608 units, accounting for 45 percent of total HARI volume.

“The commitment of HARI in fostering a culture of excellence continues to manifest as it notches its highest monthly sales to date. The company, being a trusted lifetime partner of Filipinos, endeavors to constantly improve its products and services through creating value for a sustainable future,” said Ma. Fe Perez-Agudo, HARI President and CEO

Meanwhile, the Light Commercial Vehicles (LCV) segment also posted significant July year-on-year sales growth of 52 percent to 1,030 units. This is attributed to the H-100, which closed the month at 287 units, more than doubling its output of 130 units in July of 2016.

Outlook for the Philippine economy remains optimistic as GDP is expected to expand by 6.8 percent in 2017 despite high volatility in the global market. The positive sentiment toward the Philippine market is anchored on sound macroeconomic fundamentals as the country continues to experience sustained consumer demand, manageable inflation, favorable employment figure, steady inflow of dollar remittances and flexible fiscal position. The confluence of these factors and the sustained automotive demand bid well for the industry.