Car importers report 6% hike in H1 sales

MANILA, Philippines - Car importers reported a six-percent increase in sales for the first half of the year despite the slowdown in total industry performance.

Data from the Alliance of Vehicle Importers and Distributors Inc. (AVID) showed that its member firms were able to sell 12,324 units for the first half of the year. AVID is composed of British United, CATS Motors, Hyundai Asia Resources Inc. (HARI), PGA Cars Covenant Car Co. Inc. (TCCI) and Scandinavian Motors.

The bulk of the sales came from HARI with 10,355 units in the first six months of the year followed by TCCI- importer and distributor of GM vehicles – with 1,086 units and CATS motors with 492 units for the first half.

AVID attributed the growth to the 18-percent increase in the passenger car (PC) segment.

For June alone, AVID sold a total of 2,666 units, up 11 percent from a year ago as newly introduced models continued to gain ground in the local market.

Recently launched models dominated growth figures in the first half of the year, showing an increasing acceptance of automotive buyers to new designs and an appreciation for cars with higher fuel-efficiency ratios.

Despite jitters in the global economy from market risks, price increases and the slow recuperation of Japan, AVID said they maintained their sales by offering easy-to-pay financial schemes to consumers, and strengthening brand strategies.

High cost of petroleum products and higher prices of goods and services continued to affect consumer confidence, AVID said. However, in the latest Financial Quotient Survey conducted by Citibank, it showed that Filipinos remain very positive about their quality of life, financial future, and retirement savings. The group said this favorable consumer outlook, supported by solid macroeconomic fundamentals and foreseen strong public and private investments, will likely keep their sales performance on an upside track for the remainder of 2011.

“Amidst the series of storms the country faced in June, AVID remained robust and stayed on course to deliver quality growth in sales. Our brand management strategies and reliable global supply chains continue to solidify our presence in the market,” Maria Fe Perez-Agudo, AVID president said in a statement.