SALES of imported vehicles by companies in the Association of Vehicle Importers and Distributors (AVID) rose 37 percent year-on-year in September to 3,043 units, led by the passenger car (PC) and light commercial vehicle (LCV) segments.
“The popularity of AVID’s vehicles across various segments has given the group its 9th 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.
The group said passenger car sales in September rose 38 percent year-on-year to 1,703 units, fueled by the Hyundai, Subaru, and Volvo brands. For the nine months to September, PC sales jumped by 19 percent from a year earlier to 14,050 units.
On the LCV front, sales reached 1,340 units in September, up by 35 percent from the 997 units that were sold in September last year. Chevrolet led this segment with a sales growth of 84 percent.
The LCV category continued to impress with its year-to-date sales tally of 12,963 units, up by 18 percent. This brought the combined sales of the PC and LCV segments to 27,013 units for the first nine months, an increase of 19 percent from the same period last year.
“Investment influx to the Philippines remains strong, placing the country in a strong position in the international scene. Despite the robust money supply condition and cost-push inflationary pressures, the government expects these factors to taper down in the near term,” Agudo said.
“Strong consumer confidence and bright economic prospects continue to be healthy for the automotive industry for the remainder of this year,” she said. Voltaire Palaña