AUTO INDUSTRY NEWS

Hyundai Philippines continues 2017 growth in February

Hyundai Philippines continues 2017 growth in February image

/ Hyundai | March 06, 2017 07:14

HARI continues on strong with 21-percent growth led by Accent

Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai cars in the Philippines, continues to show its strong start into 2017 as sales grew to 21-percent for the month February with a total of 2,653 units sold. This is compared to the same period of the previous year to which they only sold 2,189 units.

This pushed the accumulated January-February sales to 5,247, a 15-percent growth as compared to last year's 4,576 units.

“Our strong start in 2017 paves the way for a promising year as we continue to satisfy our customers with premium quality products and services,” said Ms. Ma. Fe Perez-Agudo, HARI president and CEO.

In February, sales in the passenger car segment continue to drive the growth of sales with a 22-percent increase with 1,934 units sold compared to the 1,583 units of 2016. The gain is mostly credited to the Accent, Hyundai's best selling model. Sales increased by 114-percent with 1,286 units sold compared to last year's 600 units.

The commercial vehicle segment also helped improved sales as it increased by 19-percent, having sold 719 units.

The strong demand for automotive vehicles in the country played the major role to HARI’s positive sales performance. Hyundai believes this is attributed to the overall stable growth of the economy along with the rising spending on infrastructure and domestic demand, as well as the high-spirited business and consumer sentiment, adequate credit, and domestic liquidity.