Jan.-May imported car sales in PHL up 27%

Sales of imported cars in the Philippines rose 27 percent in the first five months of the year from a year earlier, largely on strong turnover in passenger cars, the Association of Vehicle Importers and Distributors (AVID) reported Monday.

 

AVID members sold 12,887 units in January to May from 10,151.

 

The association said 8,004 passenger cars were sold, up 77 percent.

 

Hyundai Asia Resources Inc., The Covenant Car Co. Inc., and Motor Image Pilipinas Inc. were the top sellers in the passenger car category.

 

"Avid kicks off this third quarter with favorable sales performance, riding high on the sustained positive consumer outlook bolstered by a buoyant economic and business landscape," AVID president Ma. Fe Perez-Agudo said in a statement.

 

For May alone, total sales rose 11 percent to 2,255 units from 2,032, with more than half or 1,476 units consisting of passenger cars.

 

Lower prices, higher government spending, and growth in the services sector are expected to boost sales in the coming months, according to the AVID president. —VS, GMA News