Top Gear Philippines Philippine Car News - AVID closes first half of 2012 with 28-percent growth

The Association of Vehicle Importers and Distributors (AVID) closed the first half of 2012 with a growth of 28 percent after its members reportedly sold 15,799 units--3,475 units more than the 12,324 units sold over the same period last year. This puts AVID's sales way above the automotive industry's overall growth of 7 percent.

Sales for the passenger-car segment grew by 59 percent for the same period as 9,530 units were sold compared to last year's 6,007 units.

The month of June alone also saw a 9-percent year-on-year growth with sales of 2,912 units from versus 2,666 units in the same month last year. AVID members Hyundai Asia Resources (HARI) sold 2,356 units, Chevrolet distributor The Covenant Car Company Inc. (TCCCI) moved 248 units, and Subaru distributor Motor Image Pilipinas managed 168 units.

"As AVID enters the second semester, we expect a more upbeat outlook toward the end of 2012, strengthened by stable macroeconomic fundamentals and continuing brand management efforts," said AVID president Ma. Fe Perez-Agudo, who also happens to be the president and chief executive of HARI. "We believe that Philippine car sales will remain resilient against global economic challenges."

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