Imported auto sales rise 15% in H1
Due to Ford’s big gains
Sales of imported vehicles under the Association of Vehicles Importers and Distributors (AVID) grew by 15 percent in the first semester this year in light of additional sales from its latest member Ford Group Philippines.
In a statement, AVID said that its first semester sales reached 20,626 for the first six months of the year versus 17,941 in the first semester last year.
AVID President Fe Perez-Agudo said the growth was largely due to the surge in sales in the second quarter at 38 percent to 12,178 units versus 8,849 in the same second quarter in 2014.
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, its latest member Ford Group, which became a member in May this year, contributed 1,680 units to AVID’s total sales.
AVID’s sales of passenger cars (PC) managed to garner a 27 percent growth or a total of 5,746 units in the second quarter on the back of new sales contribution from its latest member Ford Group Philippines. Had it not for Ford, 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, AVID said considerable uptick in this segment is attributed mainly to incremental sales from new member Ford.
However, sales of HARI, the official distributor of Hyundai vehicles in the country, registered an 8 percent decline as sales in the first month hit only 10,689 units compared to 11,559 units sold in the first semester of 2014.
HARI’s PC category declined by 11 percent to 3,458 units in the second quarter as compared to the 3,892 units sold in the same quarter of 2014. Sales of LCV increased by 11% to 1,867 units from the 1,684 units in the second quarter of 2014. Semestral figures show PC’s meek decline of 10%, while LCV contracted by 2% in the first semester of this year.
Agudo noted that despite lower-thanexpected 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.