Imported vehicle sales up 23% in January
MANILA, Philippines - Sales of imported vehicles in the country went up by 23.4 percent to 2,625 units in January from 2.128 units in December due to higher demand for passenger cars, the Association of Vehicle Importers and Distributors Inc. (AVID) reported yesterday.
The group reported higher sales month-on-month due to the 43-percent expansion in the passenger car segment.
Accounting for the bulk of AVID sales last month was Hyundai Asia Resources Inc. which sold 1,992 units.
The Covenant Car Co. Inc., which sells Chevrolet cars, came in second accounting for 368 units.
Motor Image Pilipinas Inc. had the third biggest share in sales having sold 161 units.
Sales of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) excluding vehicles sold by CATS Motors Inc. reached 12,209 units in January, a 51.3-percent increase from the same month last year.
CATS Motors is a member both of the AVID and CAMPI.
Based on AVID and CAMPI reports, total industry vehicle sales reached 14,834 units in January, well-above the 10,693 units sold last year.
AVID president Ma. Fe Perez-Agudo said she is upbeat on the group’s sales performance for the year given the country’s favorable economic prospects.
“AVID remains upbeat in the current year against expectations of a stronger Philippine economy and more vibrant customer-focused brand-building initiatives which are anchored on innovations that will excite our consumers and raise their absolute satisfaction,” she said.