Hyundai Asia Resources Inc. has fortified its hold on the Korean marquee in the domestic market by firming up its appointment as the official distributor of Hyundai commercial vehicles in the country.
In simple ceremonies held in Makati City, Kim It Tae, director of commercial vehicles of Hyundai Motor Company of South Korea, recognized HARI as the Korean firm's official representative in the Philippines. “We are very satisfied with the way HARI has been pushing the brand here in the Philippines, and it is only fitting that HARI be made our local partner in your country,” says Tae.
Also in attendance during the formal turnover of the distributorship were Richard Lee, HARI chairman emeritus, and Maria Fe Perez Agudo, HARI president and CEO.
With a handshake, officers of Hyundai Motor and HARI clinch the deal giving their local partners the exclusive rights to distribute Hyundai commercial vehicles in the Philippines.
“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,” says Agudo. “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 Agudo.
Since its incorporation as official distributor of Hyundai passenger vehicles in 2001, HARI has established itself as a challenger brand in the Philippine automotive industry in less than a decade of operations.
Now on its 15th year of consistently introducing customer-driven innovation to the Filipino motoring public, HARI is poised to drive the business further into CV importation and distribution.
Hyundai is one of world’s biggest producers of commercial vehicles. Through the years, it has carved out a reputation for Hyundai trucks and buses in terms of performance, quality, and reliability. More than 150 different models are sold in over a hundred countries.
Hyundai expressed confidence that, with HARI and its strong dealership network driving sales in the country, Hyundai commercial vhicles will become a name to reckon with in the Philippine and the ASEAN CV market.
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