MANILA, Philippines - Auto importers say their sales rose 20% in the first 9 months led by passenger vehicles.
The Association of Vehicle Importers and Distributors, Inc. (AVID) said they sold 21,762 vehicles in the first 9 months, up from 18,086 in the same period last year due to strong sales of passenger cars and light commercial vehicles.
Sales of passenger cars surged 38% to 12,931 units, led by Chevy and Hyundai. Light commercial vehicles were up just 1% to 8,831 units.
In September alone, sales fell 9%. AVID blamed supply setbacks for that. While auto importers are dwarfed, auto assemblers are doing better.
"Backed by favorable economic fundamentals, we are optimistic that our respective markets are more than ready to invest in any of our powerhouse portfolios. And we are all set to offer our customers nothing less than excellent products and services," said Ma. Fe Perez-Agudo, president of AVID. - ANC