Avid hits triple-digit growth in Q3 2015

THE ASSOCIATION of Vehicle Importers and Distributors ( Avid) sales skyrocketed to 100 percent for the third quarter of 2015, with total units sold hitting as high as 18,171 units from 9,102 units in Q3 2014.

On a quarter- on- quarter basis, its sales rose by 49 percent, to 18,171 units in Q3 2015 from 12,178 units in Q2 2015. The remarkable outturn in sales was an offshoot of improved take- up in the passenger car ( PC) and light commercial vehicle ( LCV) segments. Particularly, uptick in unit sales from Ford Group Philippines and Auto Nation Group rallied the association’s number. Moreover, sales figures from Avid’s newest member, added to the surge. Suzuki Philippines Inc., the exclusive distributor of Suzuki vehicles in the country, became a member of Avid in July 2015.

The PC segment grew by 40 percent, bringing the 3rd quarter sales tally to a total of 6,952 units on a year- on- year basis. Similarly, the group’s sales performance took a climb as it registered 57- percent growth in Q3 2015 to 6,952 units against 4,424 units in Q2 2015. The PC growth is mainly due to Suzuki’s inclusion.

The LCV segment saw its sales spiked significantly by 172 percent to a total of 11,219 units in Q3 2015 versus the 4,122 units recorded in comparable period last year. The group’s quarteron- quarter figure likewise expanded by 45 percent.

Sales, economic outlook

Q2 GDP grew by 5.6 percent on the back of improved fiscal spending despite sluggish export and paltry agricultural output. The average quarterly GDP growth stood at 5.3 percent, which is far cry from the govern- ment’s economic target of 7- 8 percent. However, the election spending ahead of 2016 and accelerated implementation of public- private partnership projects will help buoy the GDP on the second half of the semester.

Overall GDP growth remained driven by domestic demand. This is brought by the combination of robust household spending, sound private sector investment and improved fiscal spending. This helps keep the demand for vehicles intact and keeps the industry sales target on track. This positive turnout presents a vibrant outlook for the auto market as the industry is poised to breach the 300,000 sales in 2015.