• Hyundai Brings The XCIENT Power At The 2017 PHILCONSTRUCT

      PASAY CITY, Manila – Hyundai Asia Resources Inc. (HARI), the Philippines’ official distributor of Hyundai passenger and commercial vehicles, will be introducing the New Generation of the Hyundai XCIENT heavy-duty truck at the 2017 PHILCONSTRUCT Construction Show which will be held at the World Trade Center & SMX Convention Center, SM Mall of Asia from January 6 to 9, 2018.   PHILCONSTRUCT is the biggest construction show in the country. It caters both to the heavy equipment and machinery, …

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  • Hyundai Dream Center Philippines: Hyundai's Christmas Gift to our Underprivileged Youth

    (L-R) HARI Chairman Emeritus Richard L. Lee, HARI President and CEO Maria Fe Perez-Agudo, Plan International Philippines Country Director Dennis Guy O’Brien, and Plan International Korea External Relations Team Manager Choi Yun Sung

     

    December 5, 2017– Hyundai Asia Resources Inc. (HARI), the Philippines’ official distributor of Hyundai passenger and commercial vehicles, joined forces with the world’s third largest vehicle manufacturer, Hyundai Motor Company of South Korea (HMC) in …

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  • Hyundai Sparks GREEN Revolution in Marikina City

    At the Groundbreaking Ceremony of Hyundai Marikina were: (L-R) Hyundai Asia Resources, Inc. (HARI) SVP – Trade Operations and Development Cluster Numeriano Cortez, Jr., Marikina City Business Permits and Licensing Office Department Head Atty. Nancy Teylan, Marikina City First District Representative Bayani Fernando, Marikina City Mayor Marcelino Teodoro, Shaw Automotive Resources, Inc. (SARI) President Felix Limcaoco III, HARI President and CEO Ma. Fe Perez-Agudo, HARI EVP and CFO Ladislao …

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  • HARI grows by 12% in November with Grand Starex and Accent; H100 stages grand recoup

      “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.” --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, registered positive year-to-date growth in Passenger Car (PC) and Light Commercial Vehicle (LCV) sales, growing by 12% …

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  • Hyundai Gears Up for 2018: Focused to Meet a Wide Range of Demands in Transport and Mobility

      Hyundai Asia Resources, Inc. (HARI), the Philippines’ official distributor of Hyundai passenger and commercial (trucks and buses) vehicles, gears up in anticipation of the government’s intensified push for infrastructure in 2018. With its line of passenger cars, commercial, and special vehicles braced for a wide range of mobility and payload requirements, HARI underscores its role as the Filipino’s lifetime partner to success.   “We are broadening our corporate horizon at a very opportune …

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HYUNDAI KICKS OFF THE 1ST QUARTER WITH 39% GROWTH

“Hyundai’s 2016 exudes great potential with the country’s very rosy economic and industry outlook. We are confident as we continue to serve our customers with bolder, fiercer, and game-changing products and services.”

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

 

Performance and Drivers

 

Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the country displayed bullish growth for the first three months of 2016. Ending the first quarter with 7,469 units, sales are up by 39% compared to the 5,364 units sold in the first quarter of the previous year. Quarter-on-quarter results also show auspicious results in automotive sales as the company also posted an identical 39% growth.

 

The Passenger Cars (PC) segment surged by 42% or 5,186 unit in the 1st quarter as compared to the 3,653 units sold in the same quarter of 2015. Light Commercial Vehicles (LCV) contributed substantially with 33% growth compared to the same period of the previous year. On the other hand, quarter-on-quarter results show a 23% pick up in sales for PC and a 99% increase for LCV.

 

Sales and Economic Outlook

 

The Philippines’ GDP grew 6.3% in the 4th Quarter, and 5.8% for the full year of 2015. Although a tad lower than projected growth by the IMF and World Bank, the Philippine economy still emerges as one of the top performing economies in the ASEAN. This is only a prelude to what is to come for 2016 as the Philippine economy is expected to get a boost from national election spending and the implementation of public-private partnership (PPP) projects. Economic expansion for 2016 is pegged to be at 6.4%.

 

The local automotive industry will likewise benefit from the overall bright scenario as auto-buying intentions are expected to be upbeat, given the low and manageable inflation, improving employment rates, and greater disposable income. With Hyundai’s upward sales trajectory in the first three months of the year, the company’s resurgence is within the horizon.

 

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