A group of vehicle importers said Tuesday sales doubled in the first half from a year ago, following the introduction of affordable models.
The Association of Vehicle Importers and Distributors said sales jumped 103 percent in January to June to 45,420 units from 22,371 vehicles delivered in same period last year.
It said second-quarter sales alone expanded 74 percent to 24,260 units from 13,296 units sold a year earlier.
“Avid sales surged by 103 percent in the first half of 2016 hinging on the entry of new, innovative and reasonably-priced models,” Avid president Ma. Fe Perez-Agudo said in a statement.
“This growth will likely be the trend in the remaining months of 2016 with Avid’s value-packed products, attractive incentives and unparalleled service,” said Perez-Agudo.
Data from Avid showed the passenger car segment sold 16,618 units, up by 87 percent from 8,876 units recorded in the first semester of 2015. Second-quarter passenger car sales increased 93 percent, led by Hyundai with 6,021 units sold.
The light commercial vehicle segment surged 113 percent in first half to 28,802 units from 13,495 units in the same period in 2015.
This was boosted by 16,054 units sold by Ford Philippines which joined Avid in May 2015.
The group managed to hit 15,251 units in the second quarter, increasing 65 percent from the same period last year.
Agudo said automotive sales were expected to keep growing, parallel to the growth of Philippine economy which grew 6.9 percent in the first quarter of 2016.
She said vehicle purchases would remain on the upside in light of increased consumer confidence and attractive lineup of products despite external political developments.
Avid is composed of 10 companies engaged in the importation and distribution of automobiles in the Philippines.
Rival industry group Chamber of Automotive Manufacturers of the Philippines Inc. earlier said members sold 167,481 vehicles in the first six months, up by 27 percent from the same period last year. (O. Campos, MS)