Sales of imported vehicles almost doubled in Q3

VEHICLE importers and distributors almost doubled their sales to 18,171 units in the third quarter of the year, due to the strong performance across passenger car and light commercial vehicle segments.

Data from the Association of Vehicle Importers and Distributors (Avid) showed that sales of passenger cars rose 40 percent to 6,952 units from July to September this year, while sales of light commercial vehicles surged 172 percent to 11,219 units for the same period.

The group attributed this stellar growth to the uptick in unit sales from Ford Group Philippines Inc. (FGPI) and Auto Nation Group (ANG). Sales figures from Avid’s newest member, Suzuki Philippines Inc. (SPI), also added to the surge. The exclusive distributor of Suzuki vehicles in the country became a member of Avid in July 2015.

“Avid’s triple-digit growth in its third quarter sales is both instructive and inspiring. It motivates us to take advantage of the market opportunities offered by a stable economy,” Avid president Ma. Fe Perez-Agudo said in a statement.

Compared to the previous quarter, Avid’s third quarter sales showed a 49 percent jump in sales from the 12,178 units sold in the second quarter of 2015.

FGPI was Avid’s top seller in the third quarter of the year with sales hitting 6,254 units, followed by Hyundai Asia Resources Inc. (Hari), which sold 6,014 units.