Sales of car firms up 65% in 2015

Vehicle importers and distributors ended 2015 on a high note as they posted a 65-percent surge in sales to 58,712 units.

The sector’s performance was due to “the strong domestic demand condition as the country enjoys economic surge,”  Avid president Ma. Fe Perez-Agudo said in a statement.

In the fourth quarter of 2015 alone, member companies of the Association of Vehicle Importers and Distributors Inc. (Avid) have more than doubled their sales to 19,796 units, compared to the 8,552 units recorded in the same period in 2014.

Agudo said Avid will continue to feed the demand “through relentlessly finding ways to respond and adapt to the evolving consumer needs and preferences.”

Data from Avid showed the biggest growth was seen in the light commercial vehicle (LCV) segment, which grew by 112 percent to 36,326 units in 2015, with strong demand fueled by the significant drop in oil prices. A major contributor to this expansion was the entry of Ford Philippines in the group last May.

The passenger car (PC) segment, meanwhile, expanded by 21 percent to 22,386 units.