Sales of imported cars climb 13% in January-March
MANILA, Philippines – Strong sales of commercial vans and passenger cars boosted the total sales of a group of car importers in the Philippines in the first quarter of 2014.
In a statement, the Association of Vehicle Importers and Distributors Inc (AVID) said it sold a total of 9,055 units from January to March, up by 13% from 7,990 from October to December 2013.
The figure is a marked improvement from sales registered at about the same time last year. In January-February 2013, AVID's total car sales were down by 11%.
As of March, a total of 4,497 light commercial vehicles (LCVs), which includes pick-up trucks and vans, and a total of 4,558 passenger cars have been sold. Both sales results were up by 13% from the same time in 2013.
In March 2014, a total of 1,621 units of LCVs were sold, 19% higher than February.
A 57% month-on-month increase in the sales of Mercedez Benz importer CATS Motors and the 33% sales increase posted by Volvo in March propelled the sales growth in the LCV segment.
Meanwhile, sales of passenger cars in March were also up by 20% in March with total sales of 1,568 units, up from 1,311 in February,
AVID said the bright economic prospects for the Philippines – as reflected by consecutive growth upgrades – also bodes well for the automotive industry.
The car group expects car sales to post double-digit growth by the end of 2014.
Aside from CATS Motors and Volvo importer Scandinavian Motors Corporation, AVID members include Hyundai, Chevrolet distributor The Covenant Car Company Incorporated, Mini distributor British United Automobiles, Subaru importer Motor Image Pilipinas, Foton distributor United Asia Automotive Group Incorporated, AutoChina Incorporated, and Porsche and Audi distributor PGA Cars Incorporated. – Rappler.com