AVID posts 8% sales hike in July

MANILA, Philippines - Amid sustained strong demand in the passenger car (PC) segment, the  country’s group of vehicle importers reported an eight percent  year-on-year growth in sales in July.   

According to the Association of Vehicle Importers and  Distributors, Inc. (AVID) it sold 3,036 units in July, more than  the 2,802 units it sold in the same month last year.    Driving the higher sales was the PC segment with sales of 1,591 units  in July, an 18 percent uptick from the 1,346 units sold a year ago.   

The Mini was the group’s fastest growing PC brand for the month, with  its 120 percent year-on-year growth in sales.   

Other PC brands which had strong demand for the month were Hyundai and Subaru.   

Sales of light commercial vehicles (LCV), meanwhile, dipped slightly to  1,445 units in July from the previous year’s 1,456 units.   

For the January to July period, the AVID’s sales grew 15 percent to  reach 20,938 units this year from the 18,147 units sold in the comparable  period in 2013.   

PC sales for the seven-month period climbed 16 percent to 10,652 units  from the previous year’s 9,167 units.   

Sales of the LCV segment increased 15 percent to 10,286 units as of  end-July from 8,980 units a year ago.   

Given the latest sales result, AVID is hopeful that the country’s  positive economic conditions would allow the group to sustain its  performance.   

“AVID entered the second half of the year headstrong with an upbeat  sales performance for the month of July. Sustained economic growth  continues to sway in favor of AVID’s sales expectations by  yearend,”AVID president Ma. Fe Perez-Agudo said.   

Last year, the group’s total sales reached 31,399 units, 11 percent  higher than the 28,400 units sold in 2012.