• HARI Achieves Double-digit Sales Growth for 2017

    “Listening and understanding the voice of customers led to HARI’s significant growth in 2017. Our success is our customers’ success.” --Ma. Fe Perez-Agudo, HARI President and CEO   Performance and Drivers   Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, closed its 2017 sales with a record-high of 37,678 units, a 12% sales growth from 33,695 units in 2016.   The Passenger Cars (PC) segment grew by 7% in 2017, registering sales at 25,529 …

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  • HARI Gears Up for TRAIN

      January 22, 2018, Bonifacio Global City. Management of Hyundai Asia Resources Inc. (HARI) welcomed Department of Finance (DOF) Assistant Secretary Ma. Teresa S. Habitan for an exclusive briefing on the impact of the Tax Reform for Acceleration and Inclusion (TRAIN) Law (RA 10963) on automotive firms and related industries, such as fuel and real estate. She also discussed the second TRAIN package, which proposes the reduction of corporate income tax rates and the rationalization of business …

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  • Hyundai, GK Kick off Next Leg of Partnership for Share Prosperity with new vehicle donation for fast-rising social enterprises

    Hyundai Asia Resources, Inc. (HARI), through its corporate social responsibility (CSR) arm HARI Foundation, Inc. (HFI), renewed its commitment to support Gawad Kalinga’s (GK) social entrepreneurship program with the donation of five vans that will further drive GK’s spirit of innovation and enterprise to more parts of the country. The vehicle turnover ceremony capped the 5th Global Social Business Summit which was held at the Hyundai Center for Green Innovation located in GK Enchanted Farm in …

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  • Together is always better: Hyundai, Gawad Kalinga Explore New Approaches for Shared Prosperity at 5th Global Social Business Summit

    Hyundai Asia Resources, Inc. (HARI), through its corporate social responsibility (CSR) arm HARI Foundation, Inc. (HFI), renewed its commitment to support Gawad Kalinga’s (GK) social entrepreneurship program at the 5th Global Social Business Summit held at the Hyundai Center for Green Innovation. HFI President Ma. Fe Perez-Agudo joined a panel of leaders from the public and private sectors to tackle the topic, “A Fresh Connection for Communities: New Approaches for Shared Prosperity.” At the …

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  • Hyundai Empowers Industries in Batangas City

    At the groundbreaking of Hyundai Trucks and Buses Batangas were: (L-R) from Hyundai Asia Resources, Inc. (HARI) VP – Commercial Trade Jimmy Trazo, SVP – Trade Operations and Development Cluster Numeriano Cortez, Jr., EVP and CFO Ladislao Avila, Jr., and President and CEO Ma. Fe Perez-Agudo; from Shaw Automotive Resources, Inc. (SARI), President Felix Limcaoco III, SVP & COO Doroteo Sornet, and VP for Operations Maria Antonietta Alonzo.   Hyundai Asia Resources, Inc. (HARI) President and CEO …

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HARI Achieves Double-digit Sales Growth for 2017

“Listening and understanding the voice of customers led to HARI’s significant growth in 2017. Our success is our customers’ success.”

--Ma. Fe Perez-Agudo, HARI President and CEO

 

Performance and Drivers

 

Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the Philippines, closed its 2017 sales with a record-high of 37,678 units, a 12% sales growth from 33,695 units in 2016.

 

The Passenger Cars (PC) segment grew by 7% in 2017, registering sales at 25,529 units. Accent is the top-selling unit and also has the fastest growth in the PC segment. It contributed 16,454 units to HARI’s 2017 sales, a whooping sales growth of 33% from 12,360 units in 2016. Elantra also increased at 20% with 1,963 units sold in 2017 compared to the 1,631 units sold in 2016. Meanwhile, Light Commercial Vehicles (LCV) segment recorded a phenomenal growth of 23% from 2016’s sales, having 12,149 units sold in 2017 from 9,888 units in 2016. The largest contributor of LCV segment sales is Grand Starex with 4,295 units sold in 2017. It grew by 562 units from the previous year, recording a 15% growth rate. Tucson also increased at 12% having 3,649 units sold versus 3,257 units sold in 2016. The fastest growing unit in this segment is H-100, which closed at 3,439 units for 2017 from 2,280 units last year. H-100 registered an enormous growth of 51%.

 

Sales and Economic Outlook

 

The Philippine economy is expected to continue its impressive growth for 2018. This is anchored on sound macroeconomic fundamentals and the current administration’s “Build, Build, Build” program, which is expected to pump prime the economy. With the passing of the Tax Reform for Acceleration and Inclusion (TRAIN) into law, pressure for further price increase, particularly in the automotive sector, is likely inevitable. Nevertheless, the automotive sector remains optimistic that the additional disposable household income of taxpayers resulting from TRAIN and the technology-driven value proposition of car players would likely to sustain high demand for automotive vehicles. HARI hopes to leverage on this sustained high consumer confidence as it welcomes moves ahead in 2018.

 

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