Hyundai Asia Resources, Inc. (HARI) shows continuous confidence in the potential of the Philippine economy due to the country’s 9.4% growth during the third quarter of 2017.
“Indeed, we live in volatile and complex times. On a positive note, we must also recognize that these are exciting and dynamic times, particularly for the automotive industry. As manufacturing has picked up the pace in the third quarter, we look forward to the opportunities it will open for the industry next year.”
According to the Philippine Statistics Authority (PSA), manufacturing escalated by an average of 8.3% to-date, with 9 out of the 22 subsectors including transport equipment which grew by 16% as of the 3rd quarter. The major contributor for this improvement is the exports sector, which topped its annual official target of 5% to achieve 12%.
Prior to the said progress is the launch of the 1st Hyundai Assembly Center (HAC) in the country this year. This establishment fulfilled Hyundai Motor Company’s (HMC) goal to widen its presence in Southeast Asia. Moreover, HARI, along with its counterparts in Malaysia, Indonesia, and Vietnam cooperates in investing and developing human capital in the ASEAN region.
On the other hand, EON sales reached 5,903 vehicles as of November 2017, while the H350 acquired a bigger audience as it served as the official vehicle during the ASEAN Summit. With that said, Hyundai PH is said to face the necessary changes in improving its global value chain and parts manufacturing services, mainly for both models.
Latest News
-
Tesla officially unveils the Tesla Cybercab / News
The highly anticipated driverless Tesla Robotaxi, also known as the Cybercab, has just been unveiled to the public.
-
Mitsubishi is building a new dealership in Bantay, Ilocos Sur / News
Mitsubishi Motors Philippines and Northpoint Alliance Motor recently began construction on a new dealership in Bantay, Ilocos Sur, wanting to make Mitsubishi cars and services easier to acce...
-
GAC Motor Philippines celebrates the festive season with exciting promos on the Empow and other models / News
Kick off the holiday season in style with GAC Motor Philippines' exclusive promos on the Empow and other models.
Popular Articles
-
Cheapest cars under P700,000 in the Philippines
Jerome Tresvalles · Sep 02, 2024
-
First car or next car, the Ford EcoSport is a tough package to beat
Jun 18, 2021
-
Car Maintenance checklist and guide – here’s everything you need to know
Earl Lee · Jan 12, 2021
-
Most fuel efficient family cars in the Philippines
Bryan Aaron Rivera · Nov 27, 2020
-
2021 Geely Okavango — Everything you need to know
Joey Deriquito · Nov 19, 2020
-
Family cars in the Philippines with the biggest trunks
Sep 20, 2023
-
Head to head: Toyota Rush vs. Suzuki XL7
Joey Deriquito · Oct 28, 2020
-
Why oil changes are important for your car
Earl Lee · Nov 10, 2020
-
2021 Kia Stonic — What you need to know about it
Joey Deriquito · Oct 16, 2020
-
Top 7 tips for buying a used car in the Philippines
Joey Deriquito · Nov 26, 2020