MANILA, Philippines - The country’s vehicle importers saw their sales rise by more than a quarter in August from last year, as both the passenger cars (PC) and light commercial vehicle (LCV) segments posted growth.
The Association of Vehicle Importers and Distributors, Inc. (AVID) said in a statement yesterday it sold 2,411 vehicles in Aug. 30 percent higher than the 1,858 vehicles sold in the same month a year ago.
Despite August being a ghost month, the PC and LCV segments both posted growth in sales compared to the previous year.
PC sales went up by 20 percent to reach 1,368 units in August from 1,143 units in 2012.
The AVID also sold more LCVs last month, with sales reaching 1,043 units, a 46 percent increase over the 715 units sold in the same month last year.
For the January to August period, AVID sales went up three percent to 20,558 units from 19,876 units last year.
AVID’s total sales in the eight-month period rose due to the positive performance of the LCV segment.
LCV sales as of end-August climbed 28 percent to 10,023 units from 7,827 units a year ago.
PC sales for the eight-month period, however, were down 13 percent to 10,535 units from the 12,049 units in the comparable period in 2012.
Given the country’s strong economic performance, the AVID also expects local automotive sales to grow this year.
“The country’s better than expected economic growth thus far this year is yet another positive validation of a bullish outlook not only for the Philippines, but for the local automotive industry as well,†AVID president Ma. Fe Perez-Agudo said.
Last week, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) reported that its combined sales with the Truck Manufacturers Association, Inc. (TMA) for August reached 13,700 units, up 21 percent from the 11,351 units in the same month in 2012.
For the January to August period, the CAMPI and TMA sold a total of 116,617 units, 18 percent higher than the 98,725 units in the comparable period last year.
Combined sales of the CAMPI, TMA and AVID are expected to reach 210,000 units this year.