AVID sales grow by 12.1 % in April 2019

MANILA: In the month of April in 2019, The Association of Vehicle Importers and Distributors or AVID in short form, managed to sell a total of 7,259 units in the Philippines. The number is good 12.1 % more than what AVID managed in the same month last year.

With that said, this was the first time in 2019 where the numbers were better than 2018 in terms of year-to-date category. The charts went up to 9,458 sales against the 29,411 units traded January to April in 2018.

“We are pleased to finally see growth in the first four months, coming from a lacklustre first quarter. The strong April performance signifies that demand for automotive vehicles is slowly increasing, eventually leading to what we forecast as a strong industry recovery”, said AVID President Ms Fe Perez-Agudo.

Most of the automobile brands in the Philippines including the likes of Ford Philippines, Hyundai Asia Resources, Auto Nation Group (Mercedes-Benz, Chrysler, Jeep, Dodge, and RAM), Suzuki Philippines, and Motor Image Pilipinas (Subaru) witnessed positive sales figures in April 2019.

If we talk about the first four months of the current year, the Passenger Cars (PC) went down by 8 %. However, in the month of April, we saw an increment of 12 % in terms of year-on-year category. The top performers were Hyundai and Suzuki who accounted for 66 % and 24 % of the totals sales, respectively. Moving to the Light Commercial Vehicle (LCV) segment, the industry witnessed a growth of 5 % on a year-to-date basis, while the year-to-date growth was 13 %.

Lastly, the Commercial Vehicle (CV) sales also took the positive road and observed a growth of 6 % on a year-on-year basis with a total of 111 trades. On the other hand, growth during the January to April period was rather marginal at 2 % with 447 units sold. The top performer in the CV segment for AVID was Hyundai, who accounted for 74 % of the total sales.

Ms Agudo went on to add, “Overall, we are optimistic that as macroeconomic fundamentals improve, industry sales will only get better. We are bound to encounter headwinds this year, including shifts in buying patterns and higher interest rates, but we are confident that the industry is geared to tackle such challenges”.

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