Auto importers saw 20% rise in sales in Q1-Q3

Vehicle importers on Monday reported that, from January to September, their combined sales grew 20 percent year on year with both passenger car and light commercial vehicle (LCV) segments improving.

The Association of Vehicle Importers and Distributors Inc. (Avid) pointed to a record sales figure of 21,762 units in the first nine months of 2012, from 18,086 units in the same period last year.

In the nine months to September, passenger car sales maintained a robust pace with 38 percent growth to 12,931 units sold.

Leading the pack during the period were British United Automobiles Inc. (Mini), The Covenant Car Company Inc. (Chevrolet) and Hyundai Asia Resources Inc., posting 35 percent, 26 percent and 15 percent growth, respectively.

The LCV category saw a 1 percent growth to 8,831 units sold from the 8,743 units reported in the first nine months of 2011.

For the month of September alone, total sales fell by 9 percent year on year on the back of “supply shortage” and “delayed shipment” in passenger cars, Avid said.

Passenger car sales plunged 32 percent to 882 from 1,296 last year. LCV sales rose by 31 percent on “strong consumer demand” during the month, with 1,005 units sold as opposed to the 770 units reported last year.

“We are proud to remain a bright spot in overall industry performance. Despite the ups and downs of the global economy, the local business and economic environment has kept a steady, upbeat pace, which augurs very well for all Avid members,” Avid president Ma. Fe Perez-Agudo said in a statement.

The Philippine economy is widely expected to remain fundamentally strong despite lingering uncertainty in the United States and Europe.

In the World Economic Forum’s Global Competitiveness Report 2012-2013, the Philippines ranked 65th among 144 countries—up from 75th place the previous year due to marked improvements in the pillars of government, the macroeconomic environment, and financial market efficiency.

Moving into the last quarter of 2012, the government hopes that full-year economic growth will hit the high end of the target, which ranges between 5 and 6 percent for the year on accelerated public and private spending, along with the onset of the holiday season and the start of campaigns for the 2013 elections.

Meanwhile, multilateral lenders like the Asian Development Bank, the World Bank and the International Monetary Fund agree that gross domestic production growth may reach 4.9 percent for this year and the next.

“Backed by favorable economic fundamentals, we are optimistic that our respective markets are more than ready to invest in any of our powerhouse portfolios. And we are all set to offer our customers nothing less than excellent products and services,” Agudo said.

Apart from Mini Cooper distributor British United Automobiles Inc., Hyundai Asia Resources Inc. and Chevrolet distributor The Covenant Car Company Inc. (TCCCI), the other members of Avid are Mercedes-Benz distributor CATS Motors Inc., Volvo distributor Scandinavian Motors and Subaru distributor Motor Image Pilipinas Inc.