Latest posts by Stock Signals Philippines (see all)
- Technical Analysis – PXP, NOW, EEI – November 22, 2017 - November 22, 2017
- Top Gainer and Top Loser Analysis – Philippine Stock Exchange – 21 November 2017 - November 22, 2017
- Philippine Stock Exchange – Market Wrap-Up Report – 21 November 2017 - November 22, 2017
MANILA, Philippines – The Association of Vehicle Importers and Distributors (AVID) reported nine-month imported vehicle sales increased by 77 percent in line with light commercial vehicles and passenger cars demand increase.
The nine-month sales record increased from 38,882 to 68,746 units, claimed by AVID yesterday.
In July to September 2015, sales of imported vehicles increased from 18,291 to 23,283 units, which is equivalent to 27 percent improvement.
The nine-month period of this year showed growth of 82 percent in light commercial vehicle sales, totaling 42,317 units. AVID’s bestselling brand, Ford, holds the largest contribution with 172 percent year-on-year sales.
From January to September, passenger car sales increased by 69 percent from 15,652 to 26,429 units against last year. In the third quarter, 40 percent growth has been exhibited by the said segment. The highest sales growth was from Hyundai Asia Resources, Inc. at 53 percent.
AVID President, Ma. Fe Perez-Agudo, stated that AVID Performance is expected to be sustained until the year-end. Due to strong macroeconomic fundamentals and demand, it will exceed the forecast from medium to long-term period. Automotive industry will expand with new product launches, higher per capita income, strong market demand, and winsome financing offers.
The increased in imported vehicle demand makes AVID more determined in providing enhanced driving experience to Filipinos.