The sales of car importers in the country slipped by 0.5 percent to 87,984 units in 2019 from 88,430 units in 2018, the Association of Vehicle Importers and Distributors (AVID) reported Thursday.
The sales of imported passenger cars went down by 150 units to 30,726 units last year from 30,876 units sold in 2018, registering a flat growth for this segment.
Light commercial vehicle sales also declined by 1.1 percent to 56,351 units in 2019 from 56,999 units in the previous year.
However, last year's commercial vehicle sales were robust compared to the two segments, with sales of 907 units, higher by 67 percent from 2018's 555 unit sales.
For December 2019 alone, AVID sales increased by 12 percent.
Growth was led by light commercial vehicles as sales of the segment expanded by 16 percent year on year to 5,362 units from 4,617 units.
Passenger car sales also improved by 5 percent to 2,608 units in December last year from 2,477 units in the same month in 2018.
Commercial vehicle sales went up by 2 percent to 119 units last month from 117 units a year ago.
The continued easing of inflation rates, lower fuel prices, and increased government spending will only bolster sales for the group. We will complement these positive indicators with new models, value-packed service offerings, and easier ownership schemes, AVID president Ma. Fe Perez-Agudo said.
She added that AVID is optimistic for this year as the government continues its robust spending on infrastructure.
Source: Philippines News Agency