Sales of Avid members down in Q1
Vehicle importers and distributors registered a 7-percent sales decline to 8,448 units in the first three months of the year on the back of the sluggish performance of the passenger car and light commercial vehicle segments.
In a statement, the Association of Vehicle Importers and Distributors Inc. (Avid) attributed the weak sales in the first quarter to the “conservative demand in January due to the end of the yuletide season.”
Avid data showed an 8-percent drop in sales of passenger cars in the first quarter to 4,208 units from the 4,564 units sold in the same quarter in 2014. Similarly, sales of light commercial vehicles declined by 6 percent to 4,240 units for the same period, from the 4,497 recorded a year ago.
Avid, however, remained bullish on its prospects for the year due to the positive outlook for the Philippine economy.
“Boosted by benign food and oil prices, the robust consumption of the private sector currently gives the local auto market a fantastic time. With strong private spending in place, the automotive industry is seen to expand by leaps and bounds,” Avid said.
“The strong showing of the local auto market gives Avid a further push to amplify its commitment to delight its customers with its exciting deals and exemplary customer service,” added Avid president Ma. Fe Perez-Agudo.
Hyundai Asia Resources Inc. (Hari) remained Avid’s top seller in the first three months of the year, with sales hitting 5,364 units. Chevrolet distributor The Covenant Car Co. Inc. was the group’s second strongest performer with sales reaching 1,991 units, during the same period.
Other Avid members include Motor Image Pilipinas Inc. (which sold 665 units from January to March); Mercedes Benz importer Auto Nation Group Inc., formerly CATS Motors (246 units); Porsche and Audi distributor PGA Cars Inc. (112 units); Mini distributor British United Automobiles (38 units); and Volvo importer Scandinavian Motors Corp. (32 units).
