AVID sales up 13% in 1st qtr
MANILA, Philippines - The country’s vehicle importers achieved a 13 percent growth in sales in the first quarter compared to a year ago amid strong performance of both the passenger car (PC) and light commercial vehicle (LCV) segments.
In a statement, the Association of Vehicle Importers and Distributors, Inc. (AVID) said it sold 9,055 units in the first quarter, up from the 7,990 units sold in the same period last year.
The group’s PC sales rose 13 percent to 4,558 units as of end-March from the 4,016 units sold in the comparable period in 2013.
LCV sales also posted a 13 percent increase to 4,497 units in the January to March period compared to the 3,974 units sold in the same period in the previous year.
For the month of March alone, total sales of the AVID reached 3,189 units, 5.35 percent higher than the 3,027 units sold in the same month last year.
PC sales however, declined 1.51 percent to 1,568 units in March from 1,592 units sold in the same month a year ago.
LCV sales climbed 12.96 percent to 1,621 units last month from the 1,435 units sold in March 2013.
Compared to February’s 2,675 units, the AVID’s total sales in March posted a 19 percent uptick.
AVID is confident the positive sales performance in the first three months of the year would be sustained for the rest of the year.
“With AVID finishing the Q1 (first quarter) race on an upswing, we remain committed to set another banner year in 2014 strengthened by the group’s collective pursuit for sustainable growth and thrust for innovation,†AVID president Ma. Fe Perez-Agudo said.
In 2013, AVID’s total sales reached 31,399 vehicles, 11 percent higher than the 28,400 units in the previous year.
The AVID was pioneered by 11 automotive firms that include AutoChina, Inc. (Geely brand); British United Automobiles, Inc. (MINI); CATS Motors Inc.(Mercedes Benz, Chrysler, Jeep and Dodge); The Covenant Car Company, Inc. (Chevrolet); Focus Ventures, Inc. (King Long and FAW); Hyundai Asia Resources, Inc.; Jaguar Phil. Inc.; Motor Image Pilipinas Inc. (Subaru); PGA Cars Inc. (Audi, Porsche, Lamborghini and Bentley); Scandinavian Motors Corp. (Volvo); and United Asia Automotive Group, Inc. (Foton).
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