By Janina C. Lim, Reporter
HYUNDAI ASIA Resources, Inc. (HARI) expects sales of Hyundai vehicles in the country to grow by as much as 27% this year, due to easing inflation rate, increased government spending, and a pickup in consumer spending.
HARI President Ma. Fe Perez-Agudo told reporters on Thursday at the opening of the Manila International Auto Show 2019 that the company will “try to achieve” its sales target of 40,000 to 45,000 units, up by 13% to 27% from the 35,401 units sold in 2018. Last year’s sales were 6% lower than the 37,678 units sold in 2017.
In the first two months of the year, the official distributor of Hyundai vehicles in the Philippines sold 6,537 units, up 16.2% from the 5,624 sold during the same period in 2018.
HARI is optimistic of a recovery in auto sales this year, as it sees a slowing inflation rate and rising consumer spending due to the elections. The government’s massive infrastructure program “Build, Build, Build” is also seen as having a positive impact on the auto industry.
“The resulting increase in construction activity will significantly have an impact on the sale of commercial vehicles. This favorable environment bodes another positive year for Hyundai,” Hyundai said in a Thursday statement.
At the Manila International Auto Show 2019, HARI unveiled Hyundai’s newest offerings — Palisade and Kona Electric.
The Palisade, said to be Hyundai’s “biggest and boldest” sport utility vehicle (SUV) to date, is priced P3.2 million. It has a head-up display that projects GPS onto the windshield; a 10.25-inch audio display with radio data system; six USB ports including 1 multimedia USB terminal; wireless charging system that allows drivers to recharge compatible smartphones without wires; a multi-terrain control feature; and advanced safety systems.
Meanwhile, the Kona Electric is the first electric SUV available in the country. It is also the “most affordable” electronic vehicle (EV) available in the local market, according to Ms. Perez-Agudo, noting the price for a unit starts at P2.3 million.
The Kona Electric is powered by a lithium-ion polymer battery pack which has a five-year, 160,000 kilometer warranty. The model has a range of 415 kilometers which it can consume before needing recharge.
Its features include an electronic stability control which automatically assists drivers in maintaining control during extreme steering maneuvers; hill start assist control which prevents cars from accidentally rolling backward whenever the brake pedal is released on a hill; a pressure monitoring system which helps prevent accidents due to under or over inflated tires; six airbags; and a seven-inch color LCD.
Asked how the Kona Electric will affect 2019 sales, Ms. Perez-Agudo said: “This is just a launch so we’re looking forward to keep the public aware of the benefits of the electric vehicle.”
