Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, has kept its growth momentum as the company closed its nine-month sales this year with sales up 50-percent.
Hyundai Philippines sold a total of 25,021 units by the end of September which is mainly attributed by both Passenger Car (PC) segment and Light Commercial Vehicles (LCV) segment.
As the front runner of HARI’s growth, the PC segment grew at a double-digit rate of 56% in the first nine months of the year. The Light Commercial Vehicles (LCV) segment was not far from the spotlight as it pushed its nine-month sales to 37% from previous year.
Meanwhile, third quarter results showed 53% growth for the PC segment and 23% growth for LCV segment.
“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,” said Ma. Fe Perez-Agudo, HARI President and CEO.
Hyundai also said that the positive growth validates their previous claim of 2016 being the year of the company’s renascence.