Here is the AVID sales breakdown between members for February:
- British United (MINI) - 16 units
- CATS Motors (Chrysler, Dodge, Jeep, Mercedes-Benz) - 60 units
- HARI (Hyundai) - 2,369 units
- Scandinavian Motors (Volvo) - 20 units
- Motor Image Pilipinas (Subaru) - 73 units
- TCCI (Chevrolet) - 318 units
AVID Sales Score 46% Growth in February
Performance and Drivers
The arrival of new models and the ready supply of units to meet strong consumer demand beefed up AVID members’ positive sales outcomes. This led to 41% growth in sales in the first two months of the year, from 3,911 units in the same period in 2011 to 5,507 units this year.
Sales and Economic Outlook
Philippine businesses continue to be optimistic for the year ahead, according to the latest Business Expectations Survey of the Banko Sentral ng Pilipinas (BSP). Respondents cited key factors, such as increase in government spending, business expansion arising from steady investment inflows, sound macroeconomic fundamentals, and possible credit upgrades for the Philippines. Optimism in the Philippines mirrored the improved business outlook of firms in the USA, Germany, and India.
The continued strengthening of the country’s macroeconomic fundamentals will ensure stability and growth in 2012. All bodes well for consumer spending, with overseas Filipino remittances reaching an all-time high of $20.1 billion in 2011, Philippine banks being given a “stable” outlook by Fitch Ratings last February 2, inflation at a low point of 2.7%, and an additional 25 basis point reduction of the BSP key policy interest rates in March.