Vehicle importers expand market share
Members of the Association of Vehicle Importers and Distributors (Avid) registered a slight increase in overall market share to 15 percent in May, from 14 percent in the first quarter.
According to the group’s latest sales report, the number of vehicles sold by its members in May reached 1,952 units, a 4-percent improvement from the 1,879 units sold in the same month last year.
This gave Avid members a 15-percent share of the vehicle pie last month.
In the same month, members of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) registered an 11-percent sales decline to 10,913 units, from the previous year’s 12,266 units.
Campi members include the country’s biggest vehicle assemblers, including Toyota Motor Philippines Corp., Mitsubishi Motors Philippines Corp., Honda Cars Philippines Inc. and Ford Group Philippines. They all implemented production cuts, following the devastating earthquake and tsunami that hit northern Japan last March 11.
Avid said its members were mostly able to “deflect production setbacks caused by the Japan disaster” due to their “robust global supply chain.”
In January to May, Avid members posted 9,658 units in sales, 4 percent more than the 9,250 units sold in the same period last year.
Apart from the minimal effects of the Japan crisis on Avid members’ supply chains, the group attributed the rise in sales to strong buyer interest in the new nameplates launched in the first quarter, especially the fuel-efficient models, and aggressive and creative advertising efforts.
Among the Avid members, Hyundai Asia Resources Inc. sold the most vehicles at 8,062 units in the first five months and 1,643 units in May alone.
