Weathering the times
In the latest report from the Association of Vehicle Importers and Distributors (AVID), the group's figures have dropped by 2%, slightly outpacing the rest of the industry's decline of 3%.
AVID reports that Passenger Car (PC) sales are up by 5% (9,347 units compared to 8,906 units from the same period last year), driven by the strong sales of Chevrolet, Hyundai and Volvo. On a month-on-month basis, PC sales in September grew by 50% to 1,300 units, pushing total sales to peak at 13.4% or a total of 2,070 units sold.
"AVID's strong showing of passenger car sales in the first nine months of the year demonstrates brand and consumer resiliency against a challenging global and domestic economy which continually tests consumer buying responses and outlook," comments Fe Perez-Agudo, AVID president.
On the other hand, the Light Commercial Vehicle (LCV), while contributing 37.2% to total sales, fell by 19.4% to 770 units sold on the back of supply setbacks. The slow sales in the LCV segment pulled down the overall figure to -2%.
AVID maintains its 15% market share of total automotive industry against challenges of supply limitations and global and domestic economic uncertainties.