AVID posts 9% sales hike in Nov

MANILA, Philippines - Vehicle importers’ sales registered a nine-percent increase in November from a year ago on the back of the demand seen for both passenger cars (PC) and light commercial vehicles (LCV).

According to the Association of Vehicle Importers and Distributors Inc. (AVID) said its sales reached 2,764 units in November of this year, up from the 2,534 units sold in the same month last year.

The increase was supported by the positive performance of both the PC and LCV segment.

The group sold 1,376 units of PCs in November this year, a six-percent uptick from the previous year’s 1,304 units.

LCV sales of the group rose at a faster pace of 13 percent to 1,388 units in November this year compared to the 1,230 units sold in the same month last year.

For the January to November period, AVID’s total sales climbed 18 percent to 32,878 units this year from the 27,908 units sold in 2013.

The PC segment boosted total sales for the 11-month period as it sold 17,081 units this year, 19 percent higher than the 14,348 units a year ago.

The LCV segment also contributed to the year-on-year increase in total sales with 15,797 units sold as of end-November this year, which grew 16 percent from the 13,560 units sold last year.

“Together with AVID’s commitment of offering top-class products and services to its customers and solidified consensus of promoting level-playing field in the automotive industry, the group reaped the fruits of its efforts with sustained growth in November,” AVID president Ma. Fe Perez-Agudo said.

As the country’s macroeconomic fundamentals remain solid, the AVID is upbeat the automotive industry would end the year on another sales milestone.

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

Of the total vehicle sales last year, 31,399 units came from the AVID.

Sales of the Chamber of Automotive Manufacturers of the Philippines Inc., a group of vehicle assemblers, reached 213,427 units as of end-November.