The country’s vehicle importers and distributors posted a 14-percent growth in sales to 11,712 units in the first four months of the year, as both the passenger car and commercial vehicle segments performed well during the period.
Data from the Association of Vehicle Importers and Distributors Inc. (Avid) showed that member-companies sold 5,803 passenger cars from January to April, up 12 percent from the same period last year, while sales of commercial vehicles grew 16 percent to 5,909 units.
For April alone, vehicle sales of Avid members grew 16 percent to 2,657 units given the return of consumer appetite for cars.
According to Avid, the light commercial vehicle (LCV) segment continued to perform well with a 28-percent growth to 1,412 units in April, while the passenger car segment chalked up a 5-percent sales increase to 1,245 units in the same period.
“With Avid’s positive stretch since the start of the year, the group’s prevalent strength will be sustained on the back of our captivating offerings and strong pursuit for customer service excellence,” noted Avid president Ma. Fe Perez-Agudo.
This optimistic outlook was based on the country’s good governance and strong macro fundamentals.
“With the Philippine economy’s rosy outlook, Filipinos’ appetite for new cars is expected to surge ahead, propelling sustained growth in the industry,” Avid explained.
Hyundai Asia Resources Inc. (Hari) remained Avid’s top seller in the first four months of the year with sales hitting 7,629 units. Chevrolet distributor The Covenant Car Co. Inc. was the group’s second strongest performer with sales reaching 2,665 units, during the same period.
Other Avid members included Motor Image Pilipinas Inc., Mercedes Benz importer CATS Motors, Porsche and Audi distributor PGA Cars Inc., Mini distributor British United Automobiles and Volvo importer Scandinavian Motors Corp.