AVID sales up 22% in January

MANILA, Philippines - The Association of Vehicle Importers and Distributors (AVID) welcomed the New Year with a remarkable 22% increase during the first month of 2014 compared to the inaugural month a year ago.

“With a host of exciting new models slated to enter the market this year, coupled with January’s performance providing a positive jumpstart to 2014, we at AVID are elated with our prospects for the Year of the Wooden Horse,” said Ma. Fe Perez-Agudo,

President, Association of Vehicle Importers and Distributors, Inc. (AVID).

January’s performance was buoyed by equally impressive showings from Passenger Car (PC) and Light Commercial Vehicle (LCV) segments, with both managing to notch up healthy 22-percent increases.

On the PC front, noteworthy performances came from CATS and Hyundai, while a resurgent Chevrolet also contributed to the segment’s healthy 1,679 unit sales tally for the month. LCV numbers, meanwhile, amounted to 1,512 units through a combined effort from all brands, with CATS and Chevrolet standing out in both categories.

The trend of stellar growth will continue on in 2014 on the back of post-Yolanda reconstruction boom, sustained influx of remittances, and better trade performance. With bright prospects for growth in 2014, the automotive industry is poised for another banner year with an expected double-digit growth in sales.