Home Mobility Mobility News AVID Q3 sales grow 100-percent year-over-year

AVID Q3 sales grow 100-percent year-over-year

The Association of Vehicle Importers and Distributors (AVID) experienced a historic first during 2015’s third quarter—the 100-percent year-over-year combined growth of its member brands. Sales soared to 18,171 units, a tiny decimal shy of doubling 2014 Q3’s 9,102 performance.

“AVID’s triple-digit growth of its Q3 2015 sales is both instructive and inspiring. It motivates us to take advantage of the market opportunities offered by a stable economy. At the same time, it inspires us to continue delighting our beloved customers with top-notch experience and unparalleled satisfaction in our products and services,” said Ma. Fe Perez-Agudo, president of AVID.

Quarter-on-quarter, 18,171 vehicles were sold this Q3, up 49-percent from Q2’s 12,178 figure. The incredible run can be attributed to the uptick in passenger car (6,952 units, 40-percent YOY growth) and light commercial vehicle (11,219 units, 172-percent YOY growth) sales, with Ford Group Philippines and Auto Nation Group leading the way. AVID’s newest member, Suzuki Philippines, Inc., was also a valuable contributor to the achievement.

Even though the country is currently averaging a quarterly 5.3-percent GDP growth this year—lower than the government target of 7- to 8-percent—election spending and increasing public-private partnership projects is expected to help fuel GDP status to a more palatable figure by the year’s end. The expected increase in financial expenditures spell great news for the country’s automotive industry which anticipates over 300,000 vehicular sales for 2015.