AUTO INDUSTRY NEWS

Hyundai Philippines ends first four months of 2017 with 9% growth

Hyundai Philippines ends first four months of 2017 with 9% growth image

/ Hyundai | May 16, 2017 07:13

Accent, Tucson, Starex and H-100 lead Hyundai PH's sales growth for 2017

Even with less working days in the month of April, Hyundai Asia Resources Inc (HARI) was still able to register a 9-percent sales growth for the first four months of this year. This was made possible after HARI was able to sell 11,362 units from January to April 2017, beating last year's 10,417 units sold in the first four months of 2016.

Leading the charge is the passenger cars segment (PC) which grew by 10-percent from 7,073 units in January to April of 2016, to 7,753 units in the same period of 2017. The Hyundai Accent remains the brand's best-selling nameplate with 5,162 models sold for the first four months.

Meanwhile, the light commercial vehicles (LCV) segment also performed well as total January to April sales reached 3,609 units for 2017. This resulted in an 8-percent increase from the previous year which only saw HARI sell 3,344 units in the same four-month period. The Tucson, Starex and H-100 carried most of the sales figures from January to April 2017.

Hyundai Philippines ends first four months of 2017 with 9% growth

“Our auspicious performance in the first four months of 2017 validates the Filipino’s growing endearment towards the Hyundai brand. This only inspires us to give nothing but top-notch quality products and services to our customers,” said Ma. Fe Perez-Agudo, HARI president and CEO.

Despite many banking and credit institutions projecting that GDP growth rate will fall between 6.5 – 7.5-percent, Hyundai is optimstic that the economy will maintain its upward trajectory. With strong domestic demand, stable OFW remittances, accelerated government spending and recovery of export numbers, these factors bode well for the local automotive industry.