Hyundai to close 2017 with 37,500 unit sales

Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, expects to close 2017 with 37,500 units or 9.8 percent higher than the 33,695 units sold in 2016.

Data from HARI showed that as of November this year, its sales went up by 12 percent increase in sales in the first 11 months of the year bringing its year to date sales to 34,025 units from 30,469 units in January-November, 2016 period.

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.

“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,” said HARI President and CEO Ma. Fe Perez-Agudo.

Company data showed that the passenger car (PC) segment grew by 7 percent 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, sales of light commercial vehicles (LCVs) rose by 23 percent, 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 percent 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.

Agudo further noted positive factors that buoyed automotive sales this year. Foremost, she cited the domestic economy’s growth of 6.9 percent in the third quarter, surpassing expectations, on the back of increased public spending and furthered by advancements in the service and industry sectors.