MANILA, Philippines – Vehicle importers reported a slight increase in sales in the January to May period from a year ago due to strong demand for light commercial vehicles (LCV).
The Association of Vehicle Importers and Distributors, Inc. (AVID) said in a statement yesterday it sold 12,898 units as of end-May, up slightly from the 12,888 units sold in the same period last year.
This was supported by the strong demand for LCVs, with 6,317 units sold, 29.3 percent higher than the 4,884 units sold in the comparable period in 2012.
Passenger car (PC) sales meanwhile, reached 6,581 units as of end-May, down 17.8 percent from the previous year’s 8,004 units.
For the month of May alone, AVID sales rose 16 percent to 2,615 units from 2,255 units in the same month last year.
This, as LCV sales jumped 59 percent to 1,237 units from 779 units a year ago.
Business ( Article MRec ), pagematch: 1, sectionmatch: 1
PC sales however, dipped seven percent to 1,378 units from the previous year’s 1,476 units.
AVID president Ma. Fe Perez-Agudo said the group remains upbeat that sales would continue to post growth for the rest of the year given the positive economic developments.
“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,” she said.
Total vehicle sales in the country are projected to reach more than 200,000 units this year.
In 2012, total vehicle sales reached 184,248 units.
Last week, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association, Inc. (TMA) reported that their combined sales grew 23.3 percent to 72,988 units in the January to May period from last year.
For the month of May alone, the CAMPI and TMA sold a total of 15,859 units, 11.2 percent higher than last year’s 14,262 units.