Hyundai PH sees flat growth this year


Hyundai Asia Resources Inc. (HARI) on Friday expressed belief that its sales figures for this year will be the same as last year’s.

During a roundtable meet hours before the opening of the Hyundai New Thinkers Summit, HARI President Ma. Fe Agudo said that the brand will achieve 22,000 units this year, which is almost the same level as 2012.

According to her, the sales for Korean carmaker’s arm in the country is still being bugged by supply issues.

“We could attain flat growth. This is because it is difficult to catch up with the demand,” Agudo added.

Because of supply-related problems, HARI can only supply 70 percent to 80 percent of the local demand for its models.

“We can no longer seek reservations,” Agudo noted, adding that 2011 was the last year that it accepted reservations for the brand’s lineup.

The mostly affected units for HARI are the Elantra, Santa Fe, Grand Starex and Accent.

Hyundai Motor as a global brand reached $9 billion in brand value, placing 43rd in Interbrand’s 2013 Best 100 Global Brands. This translates to a 160-percent increase climb in brand value, and a 41-notch jump since the Hyundai Motor joined the top 100 lineup in 2005.

In August, HARI posted a 29-percent rise in its sales, or 1,877 units versus the 1,454 of the same month last year, dampening the effects of year-to-date sales wherein it sold 14,713 for the first eight months of this year for a 6-percent slide from 15,753 units sold for the same period in 2012.


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