The sales of members from the Association of Vehicle Importers and Distributors, Inc. (AVID) maintained its positive growth for the ninth consecutive month as the total sales grew by 37 percent in September.
“The popularity of AVID’s vehicles across various segments has given the group its ninth straight month of positive growth, which further signals solid sales performance heading towards the year-end Christmas season,” AVID president Ma. Fe Perez-Agudo said.
AVID sales expanded by 37% year-on-year (YoY) in September ending the month with 3,043 units sold. Exceptional growth was seen in both the Passenger Car (PC) and Light Commercial Vehicle (LCV) segments.
Leading the way was the Passenger Car segment, which posted a strong 38% YoY increase in sales to 1,703 units. Year-to-date, the group’s PC sales jumped by 19% to 14,050 units against its September 2013 sales. Strong growth was fueled by top performers Hyundai, Subaru, and Volvo in the PC segment.
On the LCV front, sales reached 1,340 units in September, translating to 35% gain versus only 997 units that were sold in September last year. Chevrolet continues to spearhead the segment, commanding sales growth of 84%. The LCV category continued to impress with its YTD sales tally of 12,963 units, up by 18%.
Together with the solid charge of the PC and LCV segments, the group managed to grow by 19% for the first nine months of the year with a total of 27,013 units sold.
According to Perez-Agudo, investment influx to the country remains strong, placing the country in a solid position in the international scene. Despite of the robust money supply condition and cost-push inflationary pressures, the government expects these factors to temper down in the near term.
At the same time, strong consumer confidence and bright economic prospects continue to be healthy for the automotive industry for the remainder of this year, Perez-Agudo noted.