Imported Vehicles Sales Up 13% in Q1

Manila — Sales of imported vehicles in the local market has increased by 13 percent in the first quarter of 2014 against the same period in 2013, the Association of Vehicle Importers and Distributors (AVID) reported Monday.

AVID members’ sales in Q1 this year reached a total of 9,055 units from last year’s Q1 of 7,990 units.

The positive movement in sales performance was brought by 13-percent increase in sales of both passenger cars (PCs) and light commercial vehicles (LCVs) segments.

PC segment sales went up to 4,558 units from Q1 2013’s 4,016 unit sales.

Likewise, LCVs’ sales increased to 4,497 units from 3,974 unit sales in the first three months last year.

Further, month-on-month sales of AVID also had an increment of 19 percent with 3,189 units being sold in March 2014 compared to February 2014’s 2,675 units.

Among AVID members, Hyundai Asia Resources Inc. (HARI) — the local distributor of Hyundai vehicles, has lead the market share with a total sales of 5,983 units in Q1 2014.

This is followed by the exclusive distributor of Chevrolet vehicles in the country, The Covenant Car Company Inc. (TCCCI), with unit sales of 1,994 from January to March of this year.

Third top-selling AVID member in Q1 2014 is Motor Image Pilipinas Inc. (MIPI), the official distributor of Subaru vehicles, with 710 units sales.

Meanwhile, AVID has remained confident on sales of imported vehicles in the country.

“With AVID finishing the Q1 race on an upswing, we remain committed to set another banner year in 2014 strengthened by the group’s collective pursuit for sustainable growth and thrust for innovation,” told AVID President Ma. Fe Perez-Agudo.

”The improving economic landscape continues to propel growth in the automotive industry. By year-end, car sales are expected to hit double-digit growth on the back of more aggressive marketing campaigns, brisk consumer demand and improving purchasing power,” the AVID also noted. (PNA) JBP/KMC