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Monday, April 29, 2019

Vehicle Importers Saw Q1 2019 Sales Decline 3 Percent

The Association of Vehicle Importers and Distributors (AVID) reports that First Quarter 2019 sales still fell 3 percent to 22,497 units compared to 23,038 during the same period last year. That said, the group saw March 2019 sales hit a positive 8 percent. The 7,952 units sold during the month is up compared to 7,380 units in 2018 indicating that the automotive industry is beginning to recover.

“AVID’s first quarter 2019 performance indicates that the automotive industry has turned the corner and is now experiencing modest recovery. We expect a further upturn in the next three quarters on the back of improved consumer sentiment, the introduction of exciting and innovative vehicles, and the government’s aggressive infrastructure program. AVID aims to be at the forefront of this growth in vehicle sales,” said AVID President Ma. Fe Perez-Agudo.

For the month of March, Light Commercial Vehicles or LCV sales drove the growth, registering a 21 percent year-on-year increase totaling 4,998 units. The segment rose by 4 percent in the first three months of the year, bringing the sales tally to 14,168 units. Ford leads the segment with 5,456 units sold.

Meanwhile, the Passenger Car or PC segment continued to decline. In March, sales dropped 9 percent to 2,831 units, and 13 percent to 7,993 units in the first quarter of the year. Hyundai continues to lead this segment with 5,404 units sold during the period.

The same goes for the Commercial Vehicle or CV sector where sales slipped by 2 percent to 123 units in March and slightly dipped by 1 percent to 336 units in the first quarter. As the leader in this segment, Hyundai posted strong gains with 239 units sold during the period.

“If positive economic fundamentals, including low inflation and rising living standards, are sustained, we can expect a renewed boost to motorization in the country. And AVID is more than ready to offer customers up-to-the-minute innovation in our products and services,” added Ms. Agudo.

Editor’s Note:
  • ANG – Auto Nation Group (Chrysler, Jeep, Dodge, Mercedes-Benz)
  • BBAI – British Bespoke Automobiles, Inc. (Rolls-Royce)
  • BUAI – British United Automobiles, Inc. (Lotus, MINI)
  • DMI – DBPHILS Motorsports, Inc. (Aston Martin)
  • FGPI – Ford Group Philippines, Inc. (Ford)
  • HARI – Hyundai Asia Resources, Inc. (Hyundai)
  • MIPI – Motor Image Pilipinas, Inc. (Subaru)
  • JAIPI – JAC Automobile International Philippines (JAC)
  • PGA – PGA Cars, Inc. (Audi, Bentley, Lamborghini, Porsche)
  • SMC – Scandinavian Motors Corporation (Volvo)
  • SPI – Suzuki Philippines, Inc. (Suzuki)
  • TAC – Triesenburg Auto Corporation (Kinglong)
  • TCCCI – The Covenant Car Company, Inc. (Chevrolet)

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