Car sales up 16% in May y-o-y

Car importers reported a 16 percent increase in sales in May versus the same month last year on robust sales of light commercial vehicles, Association of Vehicle Importers and Distributors Inc. (AVID) said on Monday.

 

In an e-mailed statement, the group said it sold 2,615 units in May, up 16-percent from 2,255 a year earlier.

 

"While passenger car sales dipped by 7 percent to 1,378 units from  1,476 units, light commercial vehicles surged 59 percent to 1,237 units from only 779 units sold in May last year," it said. 

 

In the first five months, car importers sold 12,898 units from 12,888 units in the comparable period in 2012.

 

The Subaru and Chevrolet registered the sharpest rise in sales of light commercial vehicles, the group noted.

 

Based on historical data that reflects market behavior, AVID expects higher sales in June—citing available credit at very competitive rates and heightened promotional activities of member-brands.

 

“Current economic indicators signal a solid degree of optimism for the auto industry for the rest of the year,” said AVID president Ma. Fe Perez-Agudo. — Danessa Rivera/VS, GMA News