AVID SALES SURGED BY 38% IN Q2 2015
“Robust auto sales amid a lower-than-expected Q1 GDP growth is a strong indication of solid consumer appetite. AVID welcomes this favorable trend as an opportunity to further expand its customer base and offer a first-class auto-buying experience.”
-Ms. Ma. Fe Perez-Agudo
President, Association of Vehicle Importers and Distributors, Inc. (AVID)
Performance and Drivers
Association of Vehicle Importers and Distributors (AVID) saw its sales climb by 38% in the 2nd quarter, registering 12,178 units versus 8,849 in the same period last year. First semester performance grew 15% to 20,626 for the first six months of the year. The remarkable surge in unit sales reflects the collective effects of strong consumer uptake and AVID’s incessant efforts in expanding avenues in which it engages its ever-evolving consumer base. Notably, AVID has welcomed Ford Group Philippines, the exclusive distributor of Ford vehicles in the country, into its fold as it continues to find ways of broadening its membership to advance its value contribution to the growth of the Philippine automotive industry.
The Passenger Car (PC) segment managed to garner a 27% growth or a total of 5,746 units in the second quarter on the back of Ford Group’s sales inclusion. Otherwise, segment sales appear to be flat relative to same period in 2014. Similarly, the group’s performance for the 1st semester registered a 10% growth to 9,072 units.
The Light Commercial Vehicle (LCV) segment’s sales increased significantly by 48%, bringing the 2nd quarter sales tally to a total of 6,432 units compared to the 4,342 units sold in the same quarter in previous year. The group’s sales expanded by 20% to a total of 10,673 units versus the 1st half of 2014. Again, considerable uptick in this segment is attributed mainly to incremental sales from new member Ford.
Sales and Economic Outlook
Despite lower-than-expected Q1 output, the Philippines remains well on its way toward pursuing its economic growth target of 7-8% as the government is expected to accelerate public spending and infrastructure development. Given this level of optimism and sound macroeconomic fundamentals, the country is also expected to remain as one of the star performers in the ASEAN region.
The automotive industry remains upbeat as it ushers in the motorization phase in the country. As such, the industry is poised for double-digit growth in the third quarter of 2015, year-on-year. AVID is expected to leverage on the rewards of a booming industry and a wide array of product offers in the succeeding months.