March 14, 2019 at 07:15 pm
Othel V. Campos
The Association of Vehicle Importers and Distributors Inc. said sales of members increased 12 percent in February to 7,876 units from 7,017 units delivered a year ago, following the launch of new and exciting products.
“We are encouraged by the good sales performance of Avid for the month which signals stronger consumer confidence as well as the preference for top-notch products. While we are still in the early part of the year, we have gotten over the hump and expect a robust recovery for the automotive industry,” said Avid president Ma. Fe Perez-Agudo.
Avid said despite the solid performance in February, sales in the first two months still lagged by 8 percent to 14,499 units from a year ago.
Hyundai Asia Resources Inc., the exclusive distributors of Hyundai vehicles in the Philippines, reported strong sales in the first two months with 6,537 vehicles sold, up by 16.2 percent from last year’s 5,624 units. The company said sales in February surged 38.6 percent to 3,715 units.
“Hyundai felt the love in February as sales substantially increased driven by the successful introduction of fresh and innovative models and a more positive buying sentiment from consumers. We have turned the corner and are optimistic that this trend will continue in the coming months. We aim to end the year on a high note,” said Agudo, who also serves as the president and chief executive of Hyundai Asia Resources.