After the Association of Vehicle Importers and Distributors, Inc. (AVID) marked April as its best month, the group continuously stands strong with an overall 43,333 units sold throughout the first six months of 2019. The overall figures rendered were a 1% jump versus the same period in 2018.
AVID reached a total of 21,134 units during the Q2 of 2019, translating to a 5% increase versus last year’s Q2. There was a slight 4% dip with the year-to-date sales of passenger cars, rendering a total of 15,336 units sold versus the same period last year.
Notably, Q2 sales alone rose to 7% with 7,422 units against the same quarter last year. Still, Hyundai remains as AVID’s top volume driver, with sales rendering a total 9,458 units sold in 2019.
Despite headwinds that include an economic slowdown in the Q1 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.
Light Commercial Vehicles (LCV) on the other hand, grew by 4% in year-to-date sales, as driven by the 27,331 units sold versus the same period of 2018. LCV sales during Q2 delivered increased figures of 4% with 13,383 units sold versus Q2 2018. The respective segment remains AVID’s top volume driver as led by Ford Philippines with 10,552 units sold, HARI with 7,690 units, and lastly Suzuki with 6,611 units sold throughout H1 of 2019.
Of note, pickup trucks and midsize SUVs listed as LCVs.
As for the Commercial Vehicle segment, sales also jumped by about 2% during Q2 of 2019, numerically translated to 329 units sold versus the same period last year. The overall YTD sales of CV units gained by about 1% with 666 units sold versus the same period last year. Notably, the CV market is constantly dominated by Hyundai trucks and buses, with over 500 trucks and buses sold from January to May 2019.
Along with this successful chapter, AVID recently called for increased collaboration among automakers for the adoption of electric vehicles in the Philippines. A strategic plan which may help them venture greater success in the near future.
“This goes beyond our respective businesses. 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,” said Perez-Agudo.
AVID consists of vehicle brands such as Hyundai, Ford, and Suzuki.