THE ASSOCIATION of Vehicle Importers and Distributors, Inc. (AVID) sold 43,333 units in the first six months of the year, a slight 1% increase versus the same period in 2018. In the second quarter of 2019 alone, AVID reached a total of 21,134 units — a 5% increase versus Q2 2018.
“Despite headwinds that include an economic slowdown in the first quarter of 2019, AVID posted a third straight month of positive growth to finish the second quarter strong. We believe that this slowdown is temporary since the Philippines is now on a higher growth path and is a leading economy in the ASEAN. Given these, we will continue to introduce exciting models and innovative services to give consumers more value for their money,” said AVID President Ma. Fe Perez-Agudo.
AVID’s Passenger Cars (PC) dipped by 4% in year-to-date sales with 15,336 units sold versus same period last year, while in Q2 alone, sales rose to 7% with 7,422 units against Q2 2018. Hyundai remains consistent as AVID’s top volume driver for PC with 9,458 units sold in 2019.
The Light Commercial Vehicles (LCV) segment grew 4% in year-to-date sales with 27,331 units sold versus the same period of 2018. In Q2 2019 alone, LCV sales recorded an increase of 4% with 13,383 units sold versus Q2 2018. The LCV segment remains to be AVID’s top volume driver which is led by Ford with 10,552 units sold followed by HARI with 7,690 units and Suzuki with 6,611 units sold in the first half of 2019.
Commercial Vehicles (CV) segment sales in Q2 saw an increase of 2% with 329 units sold versus same period last year. The overall YTD sales of CV units gained 1% with 666 units sold versus the same period last year. Hyundai trucks and buses continues to dominate the CV market with over 500 trucks and buses sold from January to May 2019.
AVID recently held the first Landscape automotive industry briefing which focused on the adoption of electric vehicles (EV) in the Philippines.
Alongside Electric Vehicle Association of the Philippines (eVAP) Executive Director Jose Bienvenido Manuel Biona, AVID called for increased collaboration among automakers, a viable road map for EV adoption, and competitive incentive packages from the government to encourage investment in the industry.
“This goes beyond our respective businesses,” Ms. Agudo said. “This is about leaving a lasting legacy for future generations. We believe in doing business right and through the EV space, we will boost the overall competitiveness and sustainability of our country for years to come.”