Imported Vehicle Sales in the Philippines Up 4% in 2011

Sales of imported vehicles rose to 24,880 units last year, 4 percent higher than the 23,986 units sold in 2010, figures released by the Association of Vehicle Importers and Distributors (Avid) showed.

Avid President Maria Fe Perez-Agudo said the December sales of car importers also grew by 4 percent…

Hyundai Philippines Anticipates Flat Sales Growth in 2012

Hyundai Asia Resources, Inc. (HARI), local distributor of Korean car Hyundai, barely grew last year with sales hitting only 20,297 units from 20,172 units in 2010 and forecast to grow flat this year.

HARI’s 2011 performance was largely weighed down by considerable decline in the sales of its commercial vehicles, which posted a 10 percent decrease…

Hyundai Philippines’ Massive Sales Growth Marks its 10th Year in the Philippines

2011 marks the 10th year of Hyundai’s amazing growth in the Philippine automotive industry. Starting with only five dealers in 2001, when it was appointed exclusive distributor of Hyundai vehicles in the PH, Hyundai Asia Resources, Inc. (HARI) now has 39 strategically located dealerships across the nation and has sustained its ranking, achieved in 2010,…

Philippine Auto Importers Expect Better Sales in 2012

Local vehicle importers expect sales to grow further next year on the back of strong consumer sentiment that will be sustained by faster economic growth.

The outlook, issued by the Association of Vehicle Importers and Distributors, Inc. (AVID), came as sales of foreign-built vehicles have fared better than their…

Hyundai Philippine Distributor Proposes RP as Hub for its Asian Assembly Plant

Hyundai Asia Resources Inc. (HARI), exclusive distributor of Hyundai cars in the country, is betting the Philippines to be Hyundai’s assembly hub in Asia as the world’s fastest growing car company mulls another manufacturing plant in the region.

HARI President and Chief Executive Officer Fe Perez-Agudo told reporters at the formal launch of its partnership with East-West Bank…

Hyundai Invasion 2.1 Continues

More and more customers and motorists are catching on to the Hyundai INVASION 2.1 phenomenon as they soak up great deals for the i10, Accent, Getz, Tucson, and Santa Fe.

During the first leg of the INVASION 2.1 in various malls all over the country, the Hyundai i10 got mall goers excited over its chic and…

Korean Car Distributor Granted Regulatory Approval

Korean automobile distributor Hyundai Asia Resources, Inc. (HARI) received regulatory approval on Wednesday to hike its capital fourfold to P1 billion.

British Virgin Islands firm Kibo Holdings Ltd., which owns half of HARI, increased its stake in the company by subscribing…