Tuesday, July 23, 2013
LCVs Fuel AVID Sales in June
From January to June of this year, AVID’s LCVs marked an impressive 20% increase over the same period last year, increasing its tally to 7,524 units sold from 6,270 a year ago. Fueling this onslaught were Motor Image Pilipinas, Inc.’s Subaru and The Covenant Car Company, Inc.’s Chevrolet brands with compelling new offerings in the Compact and Mid-Size SUV categories.
The LCV segment’s exemplary first half performance provided a strong cushion in tempering a supply-stricken Passenger Car (PC) category where primary movers Hyundai and Chevrolet both experienced significant losses due to supply-dictated performance as well as strong external competition. As a result, AVID ended the period with a mere 3% decline over the same period a year ago, offsetting the 18% decline by the PC models.