The Association of Vehicle Importers and Distributors (AVID) sold 2,973 units this past June, 21% higher than the 2,447 units sold during the same period last year. These sales led to a first semester growth of 17% or a total number of 17,902 units sold for this year’s first half – figures led by the Passenger Cars (PC) and Light Commercial Vehicles (LCV) segments.
PCs saw 22% June growth year-on-year with sales of 1,515 units, figures led by Mini, CATS Motors, and Hyundai. The segment saw 16% growth or 9,061 units sold for the year’s first semester. Meanwhile, LCVs continue rolling out at a high pace headed by Chevrolet’s astounding 128% growth for LCV sales last June. For the first half of the year, LCVs saw 8,841 units sold, an 18% increase over the same period last year.
“Following its winning streak in the first half of the year, AVID expects to keep its sales track upbeat towards the end of the year as we continue to differentiate our brands towards increased customer satisfaction with our excellent product and service offerings and customer engagement initiatives,” said AVID President Ms. Ma. Fe Perez-Agudo
The automotive industry is expected to continually grow despite slower-than-expected first quarter GDP growth of the Philippine economy. Though the rest of the year is expected to bring further economic slowdowns, high consumer demands and purchases may brace the country for supply shock prices.