Hyundai Hcn : sales rev up 39% in Q1

MANILA, PhilippinesHyundai Asia Resources Inc. (HARI) posted a 39 percent sales growth in the first quarter of the year to 7,469 units from 5,364 units last year The official distributor of Hyundai vehicles in the country said sales were driven by robust demand across all vehicle segments."Hyundai's 2016 exudes great potential with the country's very rosy economic and industry outlook. We are confident as we continue to serve our customers with bolder, fiercer, and game-changing products and services," HARI president and chief executive officer Ma Fe Perez-Agudo said.HARI said its passenger cars segment surged 42 percent to 5,186 units in the first three months of the year as compared to the 3,653 units sold in the same period in 2015.Light commercial vehicles contributed substantially to the sales as well, rising 33 percent compared to the same period of the previous yearQuarter-on-quarter, HARI said sales rose 23 percent for the passenger cars segment while the light commercial vehicles segment zoomed 99 percent."The Philippine economy still emerges as one of the top performing economies in the ASEAN. This is only a prelude to what is to come for 2016 as the Philippine economy is expected to get a boost from national election spending and the implementation of public-private partnership projects," HARI said."The local automotive industry will likewise benefit from the overall bright scenario as auto-buying intentions are expected to be upbeat, given the low and manageable inflation, improving employment rates, and greater disposable income. With Hyundai's upward sales trajectory in the first three months of the year, the company's resurgence is within the horizon," the company added.© Pakistan Press International, source Asianet-Pakistan

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