Local vehicle importers on Monday announced a slight growth for their total sales in the first 11 even months of this year compared to 2012.
Based on the figures provided by the Association of Vehicle Importers and Distributors Inc. (AVID), sales for January to November this year grew by 6 percent, from 26,272 in 2012 to 27,908 units for 2013. AVID November sales also showed strong progress with an expansion of 12 percent, after 2,534 units were sold versus the 2,268 units delivered during the same month a year ago.
It was the Light Commercial Vehicles (LCV) segment that buffered the sales for the 11 months, with units delivered reaching 13,560 as compared to the 10,952 units in 2012. However, on a year-to-date basis, the passenger car segment was down 6 percent with 14,348 units sold versus the 15,320 units delivered in 2012.
The gain in November sales was propelled by LCVs, which managed to tally 1,230 units for a healthy 20-percent gain on the back of strong roll-outs of new models from Subaru and Chevrolet. To date, the segment has grown by a massive 24 percent.
Meanwhile, sales of passenger cars managed to increase by 5 percent in November against the same period in 2012, as 1,236 units were rolled out in 2012, while 1,304 units were delivered last month.
Ma. Fe Perez-Agudo, AVID president, expressed confidence on the group’s sales performance as the yearend nears.
“As we close out 2013, we at AVID remain optimistic about the prospects of the industry moving forward, where we commit ourselves not only to continue striving for excellence but more importantly, ensure sustainability in mobility by providing innovative products and services that are friendly to the environment,” she said.
Agudo also remained optimistic that the automotive industry would remain strong despite the calamities that recently hit the country.
According to her, the Philippines “defied an expected slowdown and grew by 7 percent in the third quarter of 2013, slightly lower than the 7.3 percent posted in the third quarter last year.”
“Domestic demand led the rates remain favorable. This was followed by a notable 13.1 percent growth in investments following the country’s ascent to investment grade earlier this year,” she said.
Agudo explained that the economy for the first half of 2014 would have a slower growth trajectory because of the effects of Super Typhoon Yolanda.
“However, the sustained influx of remittances and re-construction boost will help the economy regain momentum,” she added.