AVID says vehicle sales up 30% in August

Sales of vehicle importers rose by 30 percent in August year-on-year, fueled by

a growing economy that feeds on a lot of consumer spending.

"The country’s better than expected economic growth thus far this year is yet another positive validation of a bullish outlook not only for the Philippines, but for the local automotive industry as well," Ma. Fe Perez-Agudo, Association of Vehicle Importers and Distributors Inc. (AVID) president said Thursday.

Passenger cars and light commercial vehicles (LCVs) sold well during the period, the association noted.

AVID members sold 2,411 vehicles in August, up 29.7 percent from 1,858 a year earlier, the association noted in a statement.

Passenger cars accounted for 1,368 units, up 20 percent from 1,143 in the same comparable period. Light commercial vehicles accounted for 1,043 units, up 46 percent from 715.

In the eight months to August, AVID sales was up 3 percent to 20,558 units from 19,876 a year earlier and largely driven by LCVs as passenger car sales were down.

LCV sales in the year to end-August rose by 28 percent to 10,023 units from 7,827. Passenger car sales dropped 13 percent to 10,535 units from the 12,049.

Banking to a robust economy, AVID sees automotive sales registering significant growth this year. – VS, GMA News

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Ayungin dilemma Ramon Casiple - Parallaxis
    Ayungin dilemma

    China faces a dilemma in Ayungin Shoal and other contested areas. If it waits for the ITLOS—which may decide against it—it would have tacitly bound itself to UNCLOS and risk a rogue state reputation if it asserts its claim in the South China Sea. If its militarily acts now, it may face international isolation. …

  • 48 nabbed in biggest anti-trafficking catch in Bongao VERA Files - The Inbox
    48 nabbed in biggest anti-trafficking catch in Bongao

    By Jake Soriano, VERA Files Bongao, Tawi-tawi—A team of Marines and policemen intercepted around noon Thursday 48 people, 12 of them minors, believed recruited by a human trafficking syndicate for work in Malaysia. The arrest constitutes what advocates called the … Continue reading → …

  • Docs vow to pay right taxes, make peace with BIR VERA Files - The Inbox
    Docs vow to pay right taxes, make peace with BIR

    By Kiersnerr Gerwin Tacadena, VERA Files Leaders of the medical profession have made peace with their former adversary, the Bureau of Internal Revenue (BIR), and joined forces in a campaign to get doctors to pay the right taxes. BIR Commissioner … Continue reading → …

Poll Choice Options