Hyundai Asia Resources (HARI) had a successful 2016, dealing out over 33,000 vehicles en route to a 53% growth in sales. This year, the Korean carmaker is off to a good start as well, experiencing a 21% year-on-year sales boost this past February.
Leading the way for Hyundai is the Accent, of which 1,286 units were sold last month. Behind this was the Hyundai Eon; 567 of these were dispatched from Hyundai showrooms. All in all, HARI sold 2,653 vehicles in 28 days. Combined with January sales, HARI has achieved a 15% year-to-date growth compared to 2016 . To date, 5,247 Hyundai vehicles have been sold in 2017. On average, that's roughly 89 cars sold per day. Yikes!
“Our strong start in 2017 paves the way for a promising year as we continue to satisfy our customers with premium quality products and services,” said HARI president and CEO Ma. Fe Perez-Agudo.
If this keeps up, Hyundai could very well beat its 2016 success with ease. Impressive, given the current fluctuations that the Philippine economy is currently experiencing. However, the entire vehicle sales ball game could change in a hurry if the proposed increase in automobile excise tax is implemented. Perhaps the recent surge is a panic-buying reaction from the public? Only time will tell.