AVID Oct sales up slightly

MANILA, Philippines - Sales of a group of vehicle importers grew by a fifth in October from a year ago driven by the demand for both passenger cars (PC) and light commercial vehicles (LCV).

According to the the Association of Vehicle Importers and Distributors, Inc. (AVID) it sold 3,101 units in October this year, higher than the 2,589 units sold in the same month last year.

The October result was seen amid strong demand for PCs and LCVs.

AVID’s PC sales rose by 29 percent to 1,655 units in October this year compared to the previous year’s 1,279 units.

The group’s LCV segment grew by 10 percent with sales reaching 1,446 units in October from 1,310 units in the same month in 2013.

For the 10-month period, AVID sold a total of 30,114 units, a 19 percent uptick from the 25,374 units in the comparable period last year.

PC sales of the group climbed 20 percent to 15,705 units as of end-October this year from 13,044 units in the same period a year ago.

Its LCV sales grew 17 percent to 14,409 units in the January to October period this year from the previous year’s sale 12,330 units.

 “Sustained by its attractive monthly offerings, AVID maintained its strong sales pace, giving more encouragement for the group to deliver products that go beyond the bounds of satisfaction,” AVID president Ma. Fe Perez-Agudo said.

The AVID sold a total of 31,399 units last year, up 11 percent from the 28,400 units sold in 2012.

Amid favorable economic conditions and competitive promotions, the AVID is confident that the industry would achieve a double-digit growth in sales for the year.

Total vehicle sales in the country reached 212,414 units in 2013.