Latest News

  • HARI SALES LEAPS 50% IN FIRST NINE MONTHS

    “Nearing the close of 2016, a more favorable outlook is seen for the remainder of the year as Hyundai is likely to maintain its growth momentum, mirroring the vitality of the country’s economy and its fast-growing automotive industry.  With an endless potential, the company will continue to relentlessly satisfy its customers with its line-up of modern premium products and services.”   - Ma. Fe Perez-Agudo, HARI President and CEO   Performance and Drivers   Hyundai Asia …

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  • HYUNDAI PARTNERS WITH TOP BANKS FOR “OMG EON DEALS!”

     

    Hyundai Asia Resources, Inc. (HARI) surprises customers with an early holiday promo. The Hyundai EON is now even more affordable with an amazingly low financing scheme. The “OMG (Oh My Greatest) EON Deals!” is made possible with HARI’s partnership with the country’s top banks. (L-R) Numeriano R. Cortez, Jr., SVP Trade Operations & Development Cluster, HARI; Israel S. Cruz, Department Head Auto Loans Division, BPI Family Savings Bank; Dennis T. Fronda, VP …

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  • “Hyundai 5” Score Big at DOE Euro 4 Fuel Efficiency Eco Run

     

    The Hyundai Accent Sedan, Accent Hatch, Tucson (Gas and Diesel), Elantra, and Santa Fe lived up to their Modern Premium cred by figuring among the most fuel-efficient vehicles at the recently concluded DOE Euro 4 Fuel Efficiency Eco Run.

     

    A total of 70 vehicles representing 22 global automotive brands participated in the run. Hyundai Asia Resources, Inc. (HARI), official distributor of Hyundai passenger and commercial vehicles in the Philippines, fielded six models.

      …

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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 …

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  • Hyundai PH makes a grand comeback at the Manila International Auto Show (MIAS) with New Brand Campaign

    Hyundai Asia Resources, Incorporated’s (HARI) new campaign “Ang Gusto Mo, Gusto ng Puso” gives a fresh spin to the Hyundai concept of customer-driven innovation. Hyundai’s return to MIAS features the most ambitious auto exhibit to ever be put together by HARI. HARI sets a new record for MIAS by being the first to showcase two entirely unique motoring lifestyle areas, each boasting a full sensory experience of Hyundai’s signature technology and thrust for innovation …

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Sales Growth to Improve on Better Supply and Consumer Outlook

“Against a slower domestic economy, global market uncertainties and the seasonal weakness of auto sales in August, consumer demand for Hyundai products continues to be resilient as evidenced by growing customer orders. Supply setbacks, however, continue to lag delivery to our customers and dampen our sales growth. For the remainder of the year, we expect that with a more favourable supply situation, we will be able to keep our sales performance on a positive growth track.”

Ms. Maria Fe Perez-Agudo

President and CEO, Hyundai Asia Resources, Incorporated

 

Performance

HARI sold a total of 13, 271 units from January to August 2011 4% dip from the same period last year. While there was softer growth in the LCV segment, PC sales grew by 4% on the back of significant expansion in the sales of newcomer Hyundai Elantra, Midsize PC bestseller Hyundai Sonata and sports sedan Genesis Coupe.

For the month of August, seasonal sales slowdown and supply limitations dragged sales to decline by 26% from the same month last year. PC sales dropped substantially, particularly in the sub-compact segment, with the stoppage of production of Getz model which recorded marked sales in the prior period. On the other hand, LCV sales grew by 3% with the strong sales of Tucson and the H100.

 

Drivers

Combined with the seasonal downtrend in auto sales for August, global demand-supply gap continues to affect the timeliness of product delivery which in turn leads to increased unmet orders for HARI and deter more positive sales outcomes. Consumption trends for the first seven months of the year showed that car buyers steadily snapped the new Accent, the new Elantra, the Sonata, and the Genesis Coupe. In August, with fresh supplies of the bestselling Tucson, sales rose by 123% or 453 units sold, contributing significantly to the 3% growth in total LCV sales. On the premium side, despite supply constraints, the Grand Starex remains a favorite in its category. 

 

SALES OUTLOOK

HARI’s sales outlook remains optimistic for the rest of the year with expectations of reduced uncertainty from a stable domestic and global economy, better supply situation and improved  consumer outlook from increased consumer liquidity or cash flow from the yuletide bonuses and stronger OFW remittances during the last quarter of the year.

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