Imported vehicle sales in PH seen rising by 20%

MANILA, Philippines–Local vehicle importers are targeting a 20-percent growth in sales this year, due to an expected surge in demand for small cars and small sports utility vehicles.

In 2014, members of the Association of Vehicle Importers and Distributors (Avid) saw a 13-percent increase in its sales to 35,565 units. This meant a 20-percent growth will bring Avid vehicle sales to more than 42,000 units this year.

“The 20-percent growth for 2015 is a working target. We’re going to review it on a quarterly basis to see if adjustments have to be made,” Avid president Fe Perez-Agudo said.

“We believe the country is still reaping the fruits of the different activities held here, the World Economic Forum, the Papal visit and the Asia Pacific Economic Cooperation meetings,” Agudo said.

“It was estimated that vehicle sales will reach more than 300,000 units this year and we (at Avid) are looking to contribute to that growth for 2015,” she added.

The focus, she said, would be on small cars and small SUVs.