Vehicle importers on Monday announced a slight decline on their sales for the first semester this year as compared to the same period in 2012.
Based on latest figures, automotive car companies belonging to Association of Vehicle Importers and Distributors Inc. (AVID) sold a total of 15,300 units for the period of January to June 2013 versus the 15,800 during the same duration the previous year. The latest figures reflect a 3-percent decline.
AVID sold 2,447 vehicles, or a 16-percent dip, in June 2013 as compared to the 2,912 vehicles rolled out the same month last year.
But despite the decrease, light commercial vehicles (LCV) made a strong showing, or a 20-percent increase over the same period last year, for 7,524 units sold from 6,270 units.
Meanwhile, the passenger car segment of AVID showed an 18-percent decline with 9,530 units rolled out in 2012 versus the 7,821 vehicles in 2013.
Despite the latest sales figures, AVID President Ma. Fe Perez-Agudo remained optimistic for the remainder of the year.
“With upbeat local business and consumer sentiments projected to counterweigh global and regional setbacks, we at AVID remain wholly optimistic of the prospective growth of the local automotive industry for the remainder of 2013,” she said.
Moreover, Agudo expressed confidence that the economy would remain bullish given the current setting.
“Robust OFW [overseas Filipino workers]remittances from abroad, the burgeoning BPO [business process outsourcing]sector and a dynamic tourism industry are seen to support strong consumer demand for the second-half of 2013 amidst external shocks and volatility in financial markets,” Agudo said.
“The economy’s growth momentum is expected to be sustained for the next quarter, as prospects for growth such as accelerated government spending and improved investor sentiments remain intact. Solid macroeconomic fundamentals are expected to help the auto industry achieve double-digit growth by yearend,” she added.
Ruben D. Manahan 4th