Imported vehicle sales up 15% | Inquirer Business
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Imported vehicle sales up 15%

By: - Reporter / @amyremoINQ
/ 12:46 AM July 21, 2015

VEHICLE importers and distributors registered a 15-percent growth in sales to 20,626 units in the first six months of the year, driven largely by the strong performance of the light commercial vehicle (LCV) segment.

Data from the Association of Vehicle Importers and Distributors (Avid) showed that in the first half of the year, the passenger car segment had posted a 10-percent growth in sales to 9,953 units from year-ago level, while total LCV sales rose by 20 percent to 10,673 units in the same period.

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In the second quarter, the passenger car segment posted a 27-percent increase to 5,746 units, while LCV sales surged by 48 percent to 6,432 units, boosted mainly by the inclusion of the sales of Ford Group Philippines Inc., the association’s newest member.

“The remarkable surge in unit sales reflects the collective effects of strong consumer uptake and Avid’s incessant efforts in expanding avenues in which it engages its ever-evolving consumer base. Notably, Avid has welcomed Ford Group Philippines, the exclusive distributor of Ford vehicles in the country, into its fold as it continues to find ways of broadening its membership to advance its value contribution to the growth of the Philippine automotive industry,” Avid said in a statement.

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The group remained upbeat that the Philippine automotive industry was well poised for a double-digit growth in the third quarter of 2015, leveraging mainly on the rewards of a booming industry and a wide array of product offerings in the succeeding months.

“Robust auto sales amid a lower-than-expected first quarter gross domestic product growth is a strong indication of solid consumer appetite,” Avid president Ma. Fe Perez-Agudo said.

Hyundai Asia Resources Inc. (Hari) remained Avid’s top seller in the first six months of the year, with sales hitting 10,689 units. Chevrolet distributor The Covenant Car Co. Inc. came in second with sales reaching of 3,991 units in the period.

Other Avid members are Ford Group Philippines Inc. (which sold 3,522 units in January to June); Motor Image Pilipinas Inc. (1,527 units); Mercedes Benz importer Auto Nation Group Inc. (546 units); Porsche and Audi distributor PGA Cars Inc. (215 units); Mini distributor British United Automobiles (83 units); Volvo importer Scandinavian Motors Corp. (52 units), and British Bespoke Automobiles Inc., the official distributor of Rolls Royce vehicles (1 unit).

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TAGS: Association of Vehicle Importers and Distributors, Business, car industry, economy, News
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