• 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 Passenger Car Sales Up on Strong Demand

“With the increasing market demand for Sonata and our new models, Accent and Elantra, Hyundai is strongly positioned to keep our growth in the passenger car segment while we continue to shore up competitiveness of our dealerships and maintain our optimism on our full sales performance with expectations of reduced uncertainty from a stable economy, better supply situation, and improved consumer outlook with the onset of the holiday season.”

Ms. Maria Fe Perez-Agudo

President and CEO, Hyundai Asia Resources, Incorporated

 

Performance and Drivers

Against the challenges posed by global supply constraints, Hyundai closed the first nine months of the year with a 1% growth in Passenger Car (PC) sales, or 7,217 units from 7,153 units sold in the same period last year. This performance was driven by marked sales of Accent, Elantra and Sonata.

 

As of September, sales of Accent grew by close to 1% and accounted for 48% share of PC sales and 23% of total sales. The Elantra demonstrated strong market uptake with 1,578 units sold or an average of 316 units a month from the time it was introduced in April of this year. This represents 22% share of PC sales  and 11% of total sales. Likewise, sales of Sonata grew by 67% to 432 units, contributing 6% to PC sales and 3% to total sales.

 

Despite resilient consumer demand, the Light Commercial Vehicle (LCV) segment declined by 9% as of September this year as supply setbacks continue to affect sales. As a result, total sales fell by 4% to 14,883 units from 15,575 units in the prior year.

 

Outlook

Coupled with potential better supply condition, HARI looks forward to positive consumer sentiment and thus reinforced sales demand for the remainder of the year on the back of greater government spending in the fourth quarter, steady growth in OFW remittances in time for the yuletide season, a healthy banking system, fiscally strong economy and improved consumer confidence in the last quarter as reported by the Bangko Sentral’s latest Consumer Expectations Survey.

 

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