MANILA, Philippines - The Association of Vehicle Importers and Distributors (AVID) sold 2,615 units in May, registering a 16% increase compared to 2,255 units in the same month last year. While Passenger Car (PC) sales dipped by 7% to 1,378 units from 1,476 units, Light Commercial Vehicles (LCV) surged 59% to 1,237 units from only 779 units sold in May last year.
Year-to-Date (YTD) sales, on the other hand, indicated a meek growth, with 12,898 units sold for the first five months of 2013, compared to 12,888 units in 2012, as the otherwise robust LCV sales was dampened by a decline in PC volume.
“Current economic indicators signal a solid degree of optimism for the auto industry for the rest of the year. Benefitting from this current growth momentum, AVID commits to stay ahead in bringing world-class design, cutting-edge technology, and premium service to the Filipino consumers,†said Ms. Ma. Fe Perez-Agudo, President, Association of Vehicle Importers and Distributors, Inc. (AVID).
Subaru and Chevrolet registered the sharpest rise in the group with both brands registering remarkable growth in LCV sales. AVID expects higher sales in June, borne by historical sales data, widely available credit at very competitive rates and heightened promotional activities of member brands.