Vehicle sales double in Q3

MANILA, Philippines - The group of vehicle importers and distributors in the country saw sales almost double in the third quarter of the year amid strong contributions of new member firms Ford Group Philippines and Suzuki Philippines Inc.

In a statement issued yesterday, the Association of Vehicle Importers and Distributors Inc. (AVID) said a total of 18,171 units were sold from July to September, nearly 100 percent higher than the 9,102 units sold in the same period last year.

On a quarter-on-quarter basis, sales grew 49.2 percent from 12,178 units in the second quarter.

AVID attributed the group’s robust sales to the improved take-up in the passenger car  and light commercial vehicle (LCV) segments.

“Particularly, uptick in unit sales from Ford Group Philippines and Auto Nation Group rallied the association’s number. Moreover, sales figures from AVID’s newest member, added to the surge,” AVID said.

Suzuki Philippines, the exclusive distributor of Suzuki vehicles in the country, became a member of AVID in July this year while Ford Group Philippines joined the group in May.

AVID reported that the PC segment recorded a 40 percent year-on-year jump in sales to 6,952 units largely due to Suzuki’s inclusion to the group.

The LCV segment, meanwhile, posted a 172 percent growth, selling 11,219 units in the third quarter compared to only 4,122 units sold in the same period  a year ago.

“AVID’s triple-digit growth of its third quarter 2015 sales is both instructive and inspiring. It motivates us to take advantage of the market opportunities offered by a stable economy. At the same time, it inspires us to continue delighting our beloved customers with top-notch experience and unparalleled satisfaction in our products and services,” group president Ma. Fe Perez-Agudo said.

Robust household spending, sound private sector investment and improved fiscal spending are expected to keep the demand for vehicles intact and also keep the industry sales target on track, AVID said.

“This positive turnout presents a vibrant outlook for the auto market as the industry is poised to breach the 300,000 sales in 2015,” it added.