MANILA, Philippines—Vehicle importers and distributors registered a 9-percent increase in sales to 2,764 units in November, demonstrating the continued growth momentum of the Philippine automotive industry in 2014.
This brought total vehicle sales of the Association of Vehicle Importers and Distributors Inc. (Avid) for the first 11 months of the year to 32,878 units, up by 18 percent from 27,908 units a year ago.
Data from Avid showed the light commercial vehicle (LCV) segment posting a 13-percent hike in sales to 1,388 units in November, led mainly by Chevrolet. This brought the segment’s total sales for the first 11 months to 15,797 units, up 16 percent from a year ago.
The passenger cars segment posted a 6-percent sales growth in November to 1,376 units, bringing year-to-date sales of cars to 17,081 units.
Avid remained bullish that the automotive industry will end the year with another record sales milestone as the economy’s strong growth remained solid.
“The slight slowdown in the growth of the gross domestic product in the third quarter has not shaken the government’s confidence. It believes the lower-end of the GDP target for 2014 can still be achieved. Also, government officials said the country’s GDP would likely pick up next year and will grow by 7-8 percent on strong macroeconomic fundamentals, efficient financial management and rising revenue collections,” Avid said.
Hyundai Asia Resources Inc. (Hari) remained Avid’s top seller in the first 11 months of the year, with sales hitting 21,405 units. Chevrolet distributor The Covenant Car Co. Inc. was the group’s second strongest performer with sales of 7,386 units, in November.
Other Avid members included Motor Image Pilipinas Inc. (which sold 2,823 units from January to November); CATS Motors (712 units); Porsche and Audi distributor PGA Cars Inc. (310 units); Mini distributor British United Automobiles (135 units), and Volvo importer Scandinavian Motors Corp. (107 units).
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