Hyundai Asia Resources, Inc. (HARI), the official distributor of Hyundai vehicles in the country, continues its growth momentum as it remains as one of the high fliers automotive industry. Hyundai closed nine months of 2016 sales with strong growth of 50 percent, mainly due to Passenger Car (PC) segment and Light Commercial Vehicles (PCV) segments. All in all, the company sold a total of 25 021 units by the end of September.
DAY growth as the front runner of this, the PC segment is growing at double digit rates of 56 percent in the first nine months of this year. Light Commercial Vehicle (LCV) segment, meanwhile, is not far from the spotlight because of its nine-month sales boosted to 37 percent from the previous year.
Meanwhile, third-quarter results showed a 53 percent growth for the PC segment, while the LCV segment increased sales by 23 percent.
"With the closing of 2016, the view that a more favorable for the remainder of the year as Hyundai is likely to sustain the growth momentum, reflecting the vitality of the country's economy and the auto industry is growing rapidly. With unlimited potential, the company will continue endlessly satisfying customers with modern services and premium line-up, "said Ma. Fe Perez-Agudo, HARI President and CEO.
In the midst of a proposal to increase taxes on both fuel and automotive vehicles, a strong foundation of macroeconomic, higher incomes, and Ranking optimism in the auto-buying intentions, have made opportunistic prospects for demand for automotive vehicles. Hyundai positive growth reinforces this sentiment and only validate the claims in 2016 be the year of revival of the company.
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