• HARI, PETA Stage a Collaboration Coup

    HARI gets in touch with its creative side. Top management of Hyundai Asia Resources, Inc. (HARI) underwent a two-day theater workshop at the PETA Theater Center in Quezon City to kick off the year’s business planning activities. The workshop aimed to explore new platforms for creative learning and teambuilding in the context of the automotive business.

      PETA Theater Center Quezon City, September 7-8, 2017. Hyundai Asia Resources, Inc. (HARI) does it again. As the company that carries …

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  • Pamper Your Car Through Hyundai Raindrops

    Get more out of life on the road with a well-maintained car.   Your car is your ever-reliable workhorse. Without it, staying on-the-go and accomplishing tasks is definitely a challenge. Your life also greatly depends on it the moment you take the wheel. It is, therefore, imperative to give your car the TLC it truly deserves. Here are three (3) easy steps to pamper and keep your car in tip-top condition:   Trust the experts. “Health is wealth” should not be exclusive to humans. It can also be …

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  • Hyundai’s Fast Track Service: Designed for you to get more out of life

         Thousands of satisfied Hyundai car owners can’t be wrong. This monsoon season may be just the time for you to make that appointment for preventive maintenance service (PMS) to keep your car in perfect roadworthy condition. Your friendly Hyundai service center will make sure it won’t rain on your parade by making you waste precious time waiting for your car while undergoing PMS. Not with Hyundai Asia Resources, Inc. (HARI) recently earning bragging rights for service excellence with …

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  • HARI Achieves Its Highest Monthly Sales to Date

    “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.” - 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, closed its July 2017 …

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  • HARI Foundation Amplifies Fight for Environment, Awards the 10 ASEAN Biodiversity Heroes with the Hyundai iCON for Biodiversity

      One for Biodiversity. Hyundai Asia Resources, Inc. (HARI), through its corporate social responsibility arm, HARI Foundation, Inc. (HFI), celebrated 50 years of ASEAN by honoring the 2017 ASEAN Biodiversity Heroes with the Hyundai Icon for Biodiversity. At the awards ceremony held August 7 at New World Manila Bay Hotel were: (L-R) ASEAN Deputy Secretary General Vongthep Arthakaivalvatee; Eyad Samhan (Brunei Darussalam); Sophea Chhin (Cambodia); Alex Waisimon (Indonesia); Nitsavanh Louangkhot …

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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.