Quantcast
Latest Stories

Sales of imported vehicles down by 11% in Jan.-Feb.



The Association of Vehicle Importers and Distributors (Avid) suffered an 11 percent drop in sales to 4,928 units in the first two months of the year from 5,507 units in the same period last year.

Passenger car sales plunged 33 percent but a 31-percent growth in light commercial vehicle sales cushioned its impact on the sector’s overall performance. Light vehicle sales were mainly pulled up by Hyundai Asia Resources Inc. (Hari), The Covenant Car Company Inc., Motor Image Pilipinas Inc. and CATS Motors Inc., Avid said in a report.

Sales for February alone dropped by 20 percent to 2,303 units from 2,881 units in the same month in 2012.

The light commercial vehicle segment posted a 49-percent growth to 1,275 units compared to 855 units in the same month last year. However, the passenger car segment experienced a 49-percent drop, affecting overall sales performance.

Hari said it continued to be hampered by “unstable local supply due to strong global demand.” It reported an overall 20-percent decline in its sales to 3,624 units in January-February 2013 from 4,522 units a year ago. Passenger car models were hardest with a 31-percent decline in sales while light commercial vehicles posed a 1-percent gain in February, Hari said in a separate report.

Sales of the Hyundai brand in February 2013 fell 31 percent to 1,632 units from 2,369 in the same month in 2012. Passenger car models declined by 51 percent while the light commercial vehicles segment posted 20 percent growth, Hari said. Hyundai stand-out performers for the month were the Santa Fe SUV and the Grand Starex passenger van.

However, Avid said it remained optimistic that the Philippine economy would continue posting robust growth this year. Election spending coupled by increased government spending particularly on infrastructure, growing manufacturing and services sectors, and the accelerated public-private partnership projects would provide enough thrust to keep the economy upbeat in the near term.

The automotive industry is likely to rise with the economy and may probably post a double-digit growth this year, Avid said.

The other Avid members are Mini Cooper distributor British United Automobiles Inc., Volvo distributor Scandinavian Motors, and Porsche and Audi distributor PGA Cars Inc. Riza T. Olchondra


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Association of Vehicle Importers and Distributors , Business , cars , Vehicle



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Drug firm Novartis to help Leyte firefighter
  • Fears grow for hundreds missing in South Korea ferry capsize
  • Robot sub makes first complete search for plane
  • uFly fires flight simulator who appeared on CNN
  • DPWH allots P1.2 trillion for PH roads
  • Sports

  • Federer would skip tennis to be with wife, newborn
  • Manny Pacquiao in PBA? If so, he’ll wear No. 17
  • PSC sets Blu Girls US training
  • Power Pinoys settle for 7th place
  • Successful coaches to get raise
  • Lifestyle

  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • This is not just a farm
  • Clams and garlic, softshell crab risotto–not your usual seafood fare for Holy Week
  • Moist, extra-tender blueberry muffins
  • Entertainment

  • Jay Z to bring Made in America music fest to LA
  • Why Lucky has not bought an engagement ring for Angel
  • Derek more private with new girlfriend
  • ‘Community’ star happy with return of show’s creator
  • Jealousy is kid stuff
  • Business

  • PH presses bid to keep rice import controls
  • PSEi continues to gain
  • Number of retrenched workers rose by 42% in ’13
  • PH seen to sustain rise in FDIs
  • Gov’t subsidies to state firms fell in first 2 months
  • Technology

  • DOF: Tagaytay, QC best at handling funds
  • Smart phone apps and sites perfect for the Holy Week
  • Tech company: Change passwords or suffer ‘Heartbleed’
  • Filling the digital talent gap
  • SSS to shut down website for Holy Week
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Japan says visa-free entry still a plan
  • First Fil-Am elected to Sierra Madre, Calif. city council
  • UC Irvine cultural night to dramatize clash of values in immigrant family
  • Filipino sweets and info served at UC Berkeley Spring Fest
  • Milpitas, California kids wrap up a successful run of ‘The Wiz’
  • Marketplace