Monday, February 15, 2016
HARI Appointed as Hyundai Commercial Vehicle Distributor
Hyundai Asia Resources, Inc. (HARI) is celebrating a milestone befitting its fifteenth anniversary in the Philippines: the official appointment as the distributor of Hyundai commercial vehicles in the country. The agreement, formalized this week, is a milestone venture for HARI after growing the market for Hyundai passenger cars. HARI sees the appointment as a visible sign of Hyundai Motor Company (HMC)’s support to HARI after it made Hyundai one of the most sought-after car brands in the Philippines.
The appointment is not only expected to bring brand equity and awareness in both passenger car and commercial vehicle segments, but is seen to increase the Korean carmaker’s role in the continued ascent of the Philippine economy. HARI sees Hyundai commercial vehicles as the perfect partner for business-minded Filipino businessmen and entrepreneurs looking for a reliable and dependable mobility provider.
Commercial vehicles make up the bulk of local vehicle sales. Compared to other ASEAN countries, the Philippines is a relatively larger market for AUVs, LCVs, trucks, and buses. This growth is expected to continue in the foreseeable future thanks to the upbeat mode of business across different industries.
“The timing is just perfect. All the essential ingredients that favor our new venture are in place: a stable economy to support the demand; industries on a steady growth track; upbeat consumer confidence; a vibrant new market that welcomes new players; and an enabling policy environment characterized by the implementation of the ASEAN Korea Free Trade Agreement (AKFTA) and new landmark policies designed to boost the competitiveness of Philippine business in the ASEAN Economic Community. We are experiencing the third wave of motorization, meaning that from year 2015 to 2022, more and more Filipinos can easily own a motor vehicle! Outlook all in all is indeed bright…. Hyundai’s strategic investment in the Philippine commercial vehicle sector is spot-on, and nothing short of brilliant. We are in the best position to bring new value to a new market and to drive the ascent of the economy, in alignment with the national roadmap to advance the competitive advantage of Philippine businesses in the ASEAN,” says Ms. HARI President and CEO Ma. Fe Perez-Agudo.
Hyundai Motor Company expressed confidence in HARI as the newly appointed distributor thanks to the latter’s strong nationwide dealership network.
Among one of the world’s leading manufacturers of commercial vehicles, Hyundai has over 150 different models sold in over 100 countries. Hyundai commercial vehicles boasts superior end-to-end design and engineering ingenuity that guarantees exceptional handling, strength, ride, durability, and safety. Hyundai commercial vehicles are also field-tested in all working conditions to satisfy the most stringent safety standards as well as cost-effectiveness in operation.
HARI announced that the initial model line-up includes: the HD65, HD72, and HD78 in the light truck category; HD270 dump truck in the heavy-duty category; the 29+1-seater County and H350 in the bus category; and the H350 Van.