MANILA—Hyundai Asia Resources Inc. (HARI), the official distributor of Hyundai cars in the Philippines, sold 8,841 units of automotive vehicles in the first quarter of the year, up 25 percent from 7,469 units sold in Q1 2016.
Both passenger cars and light commercial vehicles made increments in the said period.
Bulk of sales in January to March period came from passenger cars, selling 5,986 units this year from 5,186 units a year ago, up by 15 percent.
Light commercial vehicle sales grew faster than the other car segment, which accelerated by 25 percent to 2,855 units in Q1 2017 from 2,283 units in Q1 2016.
The Korean carmaker’s top-selling models in the Philippine market in the first three months of the year were Accent, which sold 3,835 units; Eon, with 1,856 units; and Grand Starex, with 1,032 units.
“With our recent achievements, we expect to ride on a crest of a new wave of automotive resurgence,” said HARI President and CEO Ma. Fe Perez-Agudo.
“We are confident that we will continue to forge new ground, one milestone at a time,” she added.
Moreover, the car company noted that the country’s strong economic growth and stable inflation boost the purchasing power of middle class in the Philippines.
“All these signs prove positive for Hyundai in reaching its full potential in sales and achieving another record-breaking year,” HARI said.