The Association of Vehicle Importers and Distributors (AVID) registered a slight increase in sales to 20,340 units in the first 10 months, from 20,315 units in the same period last year.
Data from the organization showed that AVID’s strong performance in October made up for the 2 percent decline in sales in the first three quarters of the year.
Sales in October jumped 18 percent to reach 2,254 units, from 1,915 units in the same month last year. AVID attributed the strong October performance to the 48-percent rise in passenger car sales, which more than made up for weak light commercial vehicle sales.
“Strong sales recovery in October bodes well for the positive performance of AVID for the remainder of the year, with the boost arising from expectations of improved supply condition and favorable consumer outlook on better cash flow prospects triggered by holiday bonuses and overseas remittances,” AVID president Maria Fe Perez-Agudo said.
In the first 10 months, AVID’s six member-companies cornered a 15-percent share of the overall vehicle market. The industry’s third-largest player in terms of sales, Hyundai Asia Resources Inc., was AVID’s top seller during the period, with sales hitting 16,705 units in January to October and 1,822 units in October alone.
Chevrolet distributor The Covenant Car Co. Inc. was the group’s second-strongest performer with sales as of end-October reaching 2,154 units. On third place was Mercedes Benz importer CATS Motors, which sold 796 units.
Other AVID members include Mini distributor British United Automobiles, Porsche and Audi distributor PGA Cars Inc. and Volvo importer Scandinavian Motors Corp.