Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the country, continues to accelerate its pace as it obtained a 33% year-on-year sales growth this October. This progress made an impact to the year-to-date sales, which accounted to 12% increase from 27,483 to 30,717 units sold this year.
The surge of this year’s Hyundai sales performance was attributed by the demand of Passenger Cars (PC) segment, which boosted the year-to-year sales from 1,726 to 2,113 units. The main contributor to this notable improvement was the Accent, marking an 88% rise of 1,424 units compared to 758 vehicles registered on the same month last year.
On the other hand, sales of the Light Commercial Vehicle (LCV) segment escalated to 57%, selling 1,153 units this year. In fact, the H-100 model recorded an increase of 117% year-on-year with 366 units compared to last year’s 169 units sold.
Moreover, the Philippine’s gross domestic product (GDP) exceeded expectations as it marked a 6.9% growth during the 3rd quarter of 2017 – highest among the past three quarters. With the strong economic growth in the country, automotive industry is said to play an important role in intensifying the consumer appetite for goods, such as vehicles.