Tuesday, October 16, 2012
AVID Posts 20% Growth to Cap 3rd Quarter
The Association of Vehicle Importers and Distributors, Inc. (AVID) announced its January to September sales record of 21,762 units, up by 20% from 18,086 units in the same period last year. Both the Passenger Car (PC) and Light Commercial Vehicle (LCV) categories saw positive growth. In the same period, PC sales maintained a robust pace with 38% growth to 12,931 units sold as opposed to 9,343 units sold. Leading the pack of gainers for this period were British United Automobiles, Inc. (MINI), The Covenant Car Company, Inc. (Chevrolet) and Hyundai Asia Resources, Inc., posting 35%, 26%, and 15% growth respectively. Likewise, the LCV category saw a 1% rise to 8,831 units sold versus 8,743 units sold in the first nine months of 2011.
For the month of September, while total sales fell by 9% year-on-year on the back of supply setbacks in the PC category, LCV sales rose by 31% to 1,005 units sold from 770 units sold on strong consumer demand.