Sales of vehicle importers surge 77%
Sales of vehicle importers and distributors surged 77 percent to 68,746 units in the first nine months of the year on the back of the stellar performance seen across all categories.
For the third quarter alone, sales recorded by member companies of the Association of Vehicle Importers and Distributors (Avid) similarly rose by 27 percent to 23,283 units.
Data from Avid showed that in the first nine months of the year, sales of passenger cars rose by 69 percent to 26,429 units, led mainly by the growth of Hyundai Asia Resources Inc. (Hari).
Sales of light commercial vehicles grew at a faster pace of 82 percent to 42,317 units for the same period from 23,230 units sold the previous year. Under this category, Ford Group Philippines Inc. saw the biggest growth at 23,907 units in the first three quarters, almost triple the 8,775 units sold in the same period in 2015.
“As the year 2016 nears its closing, outlook on Avid performance remains upbeat, expected to grow above market expectations due to strong demand and robust macroeconomic fundamentals. And as sales increase, Avid is all the more resolute to reimagine its products and services to provide the constantly changing Filipino market an ultimate driving experience,” Avid president Ma. Fe Perez-Agudo said Thursday.
According to Avid, its optimism was anchored on the country’s strong macroeconomic fundamentals.
“With the strong macroeconomic fundamentals in place, the auto industry’s prospects remained promising from a medium- to long-term perspective. This is in light of higher per capita income, strong market demand, new product launches, and attractive financing packages that help spur growth in the automotive indus4try,” it added.
As of end September this year, Hari was Avid’s top seller with the company’s sales hitting 25,021 units, followed by Ford Group Philippines Inc., with 24,993 units, data from Avid showed.
Suzuki Philippines Inc. ranked third, which chalked up sales of 10,323 units, followed by Chevrolet distributor The Covenant Car Co. Inc. (TCCCI) with 4,339 units, and Motor Image Pilipinas Inc., with 2,397 units.
Other Avid members included Mercedes Benz importer Auto Nation Group Inc. (formerly CATS Motors), with sales reaching 1,126 units in the first three quarters of the year; Porsche and Audi distributor PGA Cars Inc. (347 units); Mini distributor British United Automobiles (102 units); Volvo importer Scandinavian Motors Corp. (70 units), and British Bespoke Automobiles Inc., the official distributor of Rolls Royce vehicles, which recorded a sale of one unit.
