Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, has recorded 3,266 unit sales for October 2017, a 33-percent year-on-year growth from 2,462 units in 2016. This made an impact to the 2017 January to October YTD sales of 30,717 units – a 12-percent growth from last year’s sales of 27,483 units.
Sales in passenger cars segment were mainly attributed to the Accent, one of the best-selling model of the brand. The Accent recorded a sales growth of 88-percent from 758 units in October 2016 to 1,424 units in October 2017. Overall the 1,726 units sold on October 2016 in the passenger car segment grew by 22-percent, having 2,113 units sold this year.
In the light-commercial vehicle (LCV) segment, Hyundai Philippines recorded a total of 1,153 unit sales for the month of October. This was a 57-percent growth compared to LCV sales of 736 units in October of 2016. Growth was credited to the H-100 which had a 117-percent growth from 169 units to 366 units this October 2017.
“As the Season of Giving approaches, Hyundai is thrilled to offer our consumers exciting new offerings and value for money deals. We are committed to put our efforts in full swing through modern premium products and customer service,” said Ma. Fe Perez-Agudo, HARI president and CEO.
Economy-wise, the Philippine's gross domestic product (GDP) surpassed Hyundai's expectations. It grew by 6.9-percent during the third quarter of 2017, which has the highest growth among the past three quarters. HARI looks forward to achieving more milestones and sales increase with the strong economic growth throughout the rest of 2017.