SUMMARY
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MANILA, Philippines – Total sales of the group of car importers in the Philippines fell in the first two months of 2013, pulled down by the lackluster performance of Hyundai Asia Resources Inc.
In a statement, the Association of Vehicle Importers and Distributors Inc. (Avid) said it sold 4,928 units in January to February, 11% lower than the 5,507 units it sold in the same months of 2012.
The passenger car segment experienced a 33% drop. The light commercial vehicle segment bucked the downtrend with a 31% sales growth.
In February alone, Avid’s sales went down 20% to 2,303 units from 2,881 in February 2012.
Aside from Hyundai, Avid members include Chevrolet distributor The Covenant Car Co. Inc., Mercedes Benz importer CATS Motors, Mini distributor British United Automobiles, Volvo importer Scandinavian Motors Corp., Subaru importer Motor Image Pilipinas, and Porsche and Audi distributor PGA Cars Inc.
Hyundai hit by supply issues
Hyundai’s sales fell 20% to 4,522 units in January to February versus 3,624 units in the same period last year.
The company said it continued to be “hampered by unstable local supply due to strong global demand.”
In February, Hyundai saw sales go down 31% to 1,632 units from 2,369 units a year ago. – Rappler.com
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