With the country’s Gross Domestic Product (GDP) growing by a staggering 7.1% in the third quarter of 2016, it is no wonder that automotive sales are likewise moving up. Consumer and infrastructure spending are high, thus the demand for products like the beloved automobile.
Beyond the economic garble, companies like Hyundai Asia Resources Inc (HARI), official Philippine importer and distributor of Hyundai vehicles, is cashing in on the trend, with a whopping 53% sales growth compared to the same period last year.
In the final quarter of 2016 alone, for instance, the Korean auto giant saw a total of 8,764 Hyundai vehicles leave its showrooms. This outstanding performance can be attributed to the Passenger Car category, which itself expanded some 53%, thanks to nameplates such as the Eon and the Accent.
The erstwhile Grand Starex, on the other hand, helped the Light Commercial Vehicle (LCV) class grow by an equally impressive 52% vis-à-vis the same period in 2015. 
As the New Year rolls in, carmakers like Hyundai are optimistic that this sales growth trend will continue or even be outdone. However, the impending increase on fuel and automotive taxes, which will result in higher retail prices, may be the fly in the ointment that could spoil the party. Of course, all this remains to be seen. The best everyone can do is remain positive.
