The Association of Vehicle Importers and Distributors (AVID) saw its sales climb by 38 percent in the second quarter of the year, registering 12,178 units versus the 8,849 units recorded in the same period last year.
First semester performance grew 15 percent to 20,626 units. The remarkable surge in unit sales reflects the collective effects of strong consumer uptake and AVID’s incessant efforts in expanding avenues in which it engages its ever-evolving consumer base. Notably, AVID has welcomed Ford Group Philippines, the exclusive distributor of Ford vehicles in the country, into its fold as it continues to find ways of broadening its membership to advance its value contribution to the growth of the Philippine automotive industry.
The Passenger Car (PC) segment managed to garner a 27-percent growth or a total of 5,746 units in the second quarter on the back of Ford Group’s sales inclusion. Otherwise, segment sales appear to be flat relative to same period in 2014. Similarly, the group’s performance for the first semester registered a 10-percent growth to 9,072 units.
The Light Commercial Vehicle (LCV) segment’s sales increased significantly by 48 percent, bringing the second quarter sales tally to a total of 6,432 units compared to the 4,342 units sold in the same quarter in the previous year. The group’s sales expanded by 20 percent to a total of 10,673 units versus the first half of 2014. Again, considerable uptick in this segment was attributed mainly to incremental sales from new member Ford.
Despite lower-than-expected first quarter output, the Philippines remains well on its way toward pursuing its economic growth target of 7-8 percent as the government is expected to accelerate public spending and infrastructure development. Given this level of optimism and sound macroeconomic fundamentals, the country is also expected to remain as one of the star performers in the Southeast Asian region.
“Robust auto sales amid a lower-than-expected first quarter GDP [gross domestic product]growth is a strong indication of solid consumer appetite. AVID welcomes this favorable trend as an opportunity to further expand its customer base and offer a first-class auto-buying experience,” AVID president Ma. Fe Perez-Agudo said.
The automotive industry remains upbeat as it ushers in the motorization phase in the country. As such, the industry is poised for double-digit growth in the third quarter of 2015 year-on-year. AVID is expected to leverage on the rewards of a booming industry and a wide array of product offerings in the succeeding months.