• HARI champions sustainability in 2018; builds on previous milestones

    A champion for sustainability. Hyundai Asia Resources, Inc. (HARI) counts over a decade of engaging in public-private partnerships that have resulted in long-term solutions to the impact of climate change in the country and in ASEAN. Notable efforts include (clockwise, from bottom left) the Hyundai Logistics Center (HLC) in Calamba, the country’s pioneering green logistics center; the Rain Water Harvesting System which addresses water scarcity in Tanay, Rizal; the Hyundai New Thinkers Circuit ( …

    Read More...
  • HARI Achieves Double-digit Sales Growth for 2017

    “Listening and understanding the voice of customers led to HARI’s significant growth in 2017. Our success is our customers’ success.” --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 2017 sales with a record-high of 37,678 units, a 12% sales growth from 33,695 units in 2016.   The Passenger Cars (PC) segment grew by 7% in 2017, registering sales at 25,529 …

    Read More...
  • HARI Gears Up for TRAIN

      January 22, 2018, Bonifacio Global City. Management of Hyundai Asia Resources Inc. (HARI) welcomed Department of Finance (DOF) Assistant Secretary Ma. Teresa S. Habitan for an exclusive briefing on the impact of the Tax Reform for Acceleration and Inclusion (TRAIN) Law (RA 10963) on automotive firms and related industries, such as fuel and real estate. She also discussed the second TRAIN package, which proposes the reduction of corporate income tax rates and the rationalization of business …

    Read More...
  • Hyundai, GK Kick off Next Leg of Partnership for Share Prosperity with new vehicle donation for fast-rising social enterprises

    Hyundai Asia Resources, Inc. (HARI), through its corporate social responsibility (CSR) arm HARI Foundation, Inc. (HFI), renewed its commitment to support Gawad Kalinga’s (GK) social entrepreneurship program with the donation of five vans that will further drive GK’s spirit of innovation and enterprise to more parts of the country. The vehicle turnover ceremony capped the 5th Global Social Business Summit which was held at the Hyundai Center for Green Innovation located in GK Enchanted Farm in …

    Read More...
  • Together is always better: Hyundai, Gawad Kalinga Explore New Approaches for Shared Prosperity at 5th Global Social Business Summit

    Hyundai Asia Resources, Inc. (HARI), through its corporate social responsibility (CSR) arm HARI Foundation, Inc. (HFI), renewed its commitment to support Gawad Kalinga’s (GK) social entrepreneurship program at the 5th Global Social Business Summit held at the Hyundai Center for Green Innovation. HFI President Ma. Fe Perez-Agudo joined a panel of leaders from the public and private sectors to tackle the topic, “A Fresh Connection for Communities: New Approaches for Shared Prosperity.” At the …

    Read More...

RECORD-HIGH MARCH SALES PUSH HARI Q1 GROWTH TO 18%

“With our recent achievements, we expect to ride on the crest of a new wave of automotive resurgence in 2017. Through innovation and relentless pursuit of our customers, we are confident that we will continue to forge new ground, one milestone at a time."

 

- 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 March 2017 with record sales of 3,371 units—the highest monthly output in the company’s 15-year history. This pushed first quarter sales to 8,841, up by 18% as compared to the 7,469 units sold in the same period of 2016.

 

At the forefront of HARI’s auspicious performance is its volume driver, the Passenger Cars (PC) segment which grew by 15% from 5,186 units in Q1 2016 to 5,986 units in Q1 2017. Credit goes to the Accent as it remains as the brand’s top-selling nameplate with 3,835 units sold in the first three months of 2017.

 

The Light Commercial Vehicles (LCV) segment was not to be outdone as total Q1 2017 sales reached 2,855 units, a 25% increment from the previous year’s 2,283 Q1 sales. The growth in this segment is largely attributed to high pickup for the brand’s utility truck, the H-100.

 

Sales and Economic Outlook

 

Philippine GDP remains at the upside as it ended 2016 with a full-year average of 6.8%, falling on the upper-bound of the government’s 2016 GDP target of 6.0% to 7.0%. The Q1 2017 GDP is projected to remain in the 6.5% to 7.0% rate as the increased infrastructure spending continues to fuel economic activity. A strong economic growth and a steady inflation, adding to the increasing purchasing power of the middle class, allow the Philippines to continue to offer good opportunities. All these signs prove positive for Hyundai in reaching its full potential in sales and achieving another record-breaking year.

 

t