Imported vehicle sales up 43% in Nov

MANILA, Philippines - The Alliance of Vehicle Importers and Distributors (AVID) reported yesterday that their November sales totaled 2,672 units, 43 percent higher than in the same period a year ago.

Data showed that the group sold more units this year due to the remarkable performance of the passenger car (PC) and light commercial vehicle (LCV) categories with sales growth of 79 percent and three percent, respectively.

“Strong sales in November bodes well for promising prospects in 2012 with expectations of global and domestic economic improvements, positive consumer outlook and sustained resiliency of AVID brands,” group president and Hyundai Philippines head Maria Fe Perez-Agudo said.

On a month-on-month basis, sales in November surged 19 percent from the previous month. This was driven by strong uptakes on AVID brands across the PC and LCV categories with 14 percent and 29 percent climbs, respectively. 

This brings AVID’s sales for the first 11 months of the year to 23,012 units from 22,187 units sold during the same period last year or a four percent growth. AVID outperformed the total industry’s sales, which fell 1.1 percent during the same period, while keeping its market share at 15 percent.

Agudo said creative and steady brand-building activities by AVID member-companies contributed heavily to the better-than-industry November sales performance.

The group said they expect the year to end on a high note due to the improving overall business sentiment in the fourth quarter which favors positive consumer and sales outlook moving forward.

Based on the latest Business Expectations Survey of the central bank, growth from the country’s sound macroeconomic fundamentals, robust overseas Filipino remittances, strong investment inflows, and higher consumer spending with the onset of the Christmas season are the key factors to an optimistic business outlook in the next six to 12 months.

The group said the government remains optimistic about growth prospects in the fourth quarter of 2011 and the whole 2012 through “general expectation of robust consumption, continuing improved investments, and higher government consumption in the near term.”