• HARI Scores Double Win For Service Excellence

    Award-winning customer service. HARI S-AVP for After-Sales Service Operations (4th from left) Richard Gapasin received the prestigious Excellent Customer Service Achievement award for the passenger cars segment from HMC EVP & COO for International Operations Division Byung Kwon Rhim (rightmost) at the Global Customer Service Innovation Seminar held from July 4 to 6, 2017, in Seoul, Korea.   Becoming the most trusted lifetime partner of the Filipino goes beyond providing mobility solutions. It …

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  • HFI Salutes PH Team to 58th International Mathematical Olympiad

    HARI Foundation, Inc. roots for the PH Math team to the 58th International Mathematical Olympiad. Flying off to this year’s host city, Rio de Janeiro are: (first row, L-R) Team Leader Dr. Richard Eden (Ateneo de Manila University), Clyde Weslet Ang (Chiang Kai Shek College), Farrell Eldrian Wu (MGC New Life Christian Academy), Deputy Team Leader Dr. Louie John Vallejo (University of the Philippines-Diliman); (second row, L-R) Sean Anderson Ty (Zamboanga Chong Hua High School), Shaquille Wyan …

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  • HARI Foundation, Inc. Champions Biodiversity Conservation in the Asean Region

    One for Biodiversity. HARI Foundation, Inc. (HFI), led by President Ma. Fe Perez-Agudo, and ASEAN Centre for Biodiversity (ACB), led by Director Atty. Roberto Oliva, commit to intensify efforts at preserving the ASEAN region’s rich but threatened biodiversity.   Hyundai Asia Resources, Inc. (HARI), through its corporate social responsibility (CSR) arm HARI Foundation, Inc. (HFI), takes up the cudgels for the environment in a grand new way as the Philippine automotive industry’s champion for …

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  • Hyundai: Official Mobility Partner of ASEAN Biodiversity Heroes

    A show of force for the environment. HARI Foundation, Inc. (HFI) President Ma. Fe Perez-Agudo and ASEAN Centre for Biodiversity (ACB) Director Atty. Roberto Oliva commit to intensify efforts at conserving the ASEAN region’s rich but threatened biodiversity.   Hyundai Asia Resources, Inc. (HARI), through its corporate social responsibility (CSR) arm HARI Foundation, Inc. (HFI), has partnered with the ASEAN Centre for Biodiversity (ACB), to take its advocacy for education in environmental …

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  • Hyundai Keeps It Clean at the National Car Wash Weekend

    On its 3rd successful run, Hyundai Asia Resources, Inc. (HARI) will hold the Hyundai National Car Wash Weekend on July 1-2 at authorized dealerships, nationwide.   In the 2-day event, Hyundai customers get to enjoy a full vehicle pampering experience inside and out. The usual exterior wash, vacuum and tire black are stashed with the 23-point check-up using the Global Diagnostic System (GDS) Tool.   And the treat just keeps on getting better! Customers get a limited edition golf umbrella if …

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HYUNDAI CLOSE OUT 2014 WITH 4% GROWTH

“As the Philippine economy continues to be a bright spot for growth in Asia, Hyundai drives forward in 2015 as we strengthen our service excellence and expand our product line.

- Ma. Fe Perez-Agudo, HARI President and CEO

 

 

Performance and Drivers

 

Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, ended 2014 on a positive note as sales accelerated to 23,019 units, up by 4% from 2013 total sales of 22,033 units. However, December sales proved to be a disappointment as sales contracted by 33% to 1,614 units compared to December 2013 sales of 2,416 units.

For the month of December, slowdown was seen in both Passenger Car (PC) category and Light Commercial Vehicle (LCV) category. The PC category reported 28% decline in sales to 1,155 units in December. Despite the category’s slow growth in December, PC category finished the year strong with 17% growth in sales to 16,117 units from 2013 sales of 13,774 units.

Sales for the LCV category posted a decline of 44% in December to 459 units. Weak December sales brought total LCV sales tally to 6,902 units in 2014, down by 16% compared to 2013 sales of 8,259 units.

 

Sales and Economic Outlook

 

The Philippine economy posted a lower-than-expected growth of 5.3% for the third quarter of 2014. Although hitting the low end GDP target which is 6.5% would be difficult to hit, investors continue to express high hopes in the “Asia’s New Tiger”. Buoyed by the robust macroeconomic fundamentals, efficient financial management and rising revenue collections, the Philippine economy bodes well for 2015 and will retain its target of 7-8%.

 

Coupled with the economic prevalent strength, trend in vehicle demand is seen to be very positive fuelled by optimistic business and consumer sentiments.